USDJPY | PSYCHOLOGICAL LEVEL REACHED CAN IT BREAK IT?

Hello Traders,

The USDJPY 112.000 has been reached and as expected the market fell short and bears kicked in.

Now whether the market will decide to continue its bearish movement is hard to say, if it breaks the upcoming support level and we have a nice bearish engulfing candle with a push-exhaustion-push cycle then we will head further down likely to daily moving averages.

I personally entered this trade yesterday on the 5-minute timeframe and kept it open, since it had a nice squeeze on the 5 minutes and a break off support I knew it will go down.