USD/JPY Daily Chart Analysis

FX_IDC:USDJPY   U.S. Dollar / Japanese Yen
The 8 EMA seems to be crossing below the 21 EMA indictating a downward trend
The 50 MA seems to be acting as a Resistance Line
An inside bar has also formed at a key level (the monthly support line), if price action breaks the Monthly Support as well as the 8&21 EMA Cross Over (Confluence) I believe Price will continue to Sell

Possible entry could be 300-1000 points below the Mother Bar formed in the Inside Bar formation

Weekly chart also shows 8&21 EMA cross over indicating a downward trend

Monthly is a little unclear at the moment

I will continue to look at this Pair closely too see where this trade will lead


Good analysis!
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter