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FX.co ★ USD/JPY Breakdown Indicates Downside!

USD/JPY Breakdown Indicates Downside!

USD/JPY Breakdown Indicates Downside!

USD/JPY moved sideways in the H4 chart. Now it has managed to break below the uptrend line signaling that it could move downwards. In the short term, we cannot exclude temporary growth. The USD/JPY pair could come back higher to test and retest the broken line before resuming its decline.

You can notice that USD/JPY was traded within a triangle chart pattern, between the downtrend and uptrend lines. Escaping from this pattern to the downside indicates strong sellers and a potential drop.

Trading Conclusion!

Stabilizing below the broken uptrend line may announce potential drops towards 109.00 psychological level.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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