Get started
T3-Consultancy

USDJPY H4: Bearish outlook seen, further downside below 137.50

Short
U.S. Dollar / Japanese Yen (VANTAGE:USDJPY)  
T3-Consultancy  
VANTAGE:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns usjdpy USD jpy usdjpybearish usdjpybuy usdjpysell Forex forextrading forexsignals
2
0
trendanalysis harmonicpatterns chartpattern usjdpy usd jpy usdjpybearish usdjpybuy usdjpysell forex forextrading forexsignals
On the H4 time frame, prices are facing bearish pressure from the resistance zone at 137.50 which lines up with the 78.6% Fibonacci retracement level. We could see a reversal below the 137.50 resistance zone to our support zone at 135.50 which is also the graphical support zone and 38.2% Fibonacci retracement. Stochastics is testing resistance as well supporting the bearish bias.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.