FX.co ★ remington.kihn | USD/JPY

A bearish Panther pattern formed on the USDJPY currency pair for a decline on Friday at the market close, so from Monday the focus is on a downward move. The first downside target is the low at 161.28. Then the decline will most likely continue to the low at 160.49. The current resistance level is at the high of 162.61. The recommendation is exclusively to open short positions towards 161.28 from the market open on Monday. It turns out the rise was incomplete after the bullish Panther pattern formed toward the high of 162.84, so buyers were knocked out. Usually, if buyers are stopped out, sellers are then allowed to make money.