Hi Traders!
2023 was a bullish year overall for the USDJPY, though it has just fallen short in the end as the market attempted but failed to break through the record high apex level at 151.946. The market is now on the verge of breaking below the yearly trendline.
Here are the details:
After failing to break through the record high of 151.946 last month, the market has rapidly declined to break below the 20 EMA and is now trading near the 140 handle. The bears are now looking to push the market to break below the trendline, and if we get this, there is a big target level at 137.915.
Preferred Direction: Sell
Entry Level: 142.550
Stop Level: 145.020
Target Level: 137.915
Technical Indicators: 20 EMA
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
2023 was a bullish year overall for the USDJPY, though it has just fallen short in the end as the market attempted but failed to break through the record high apex level at 151.946. The market is now on the verge of breaking below the yearly trendline.
Here are the details:
After failing to break through the record high of 151.946 last month, the market has rapidly declined to break below the 20 EMA and is now trading near the 140 handle. The bears are now looking to push the market to break below the trendline, and if we get this, there is a big target level at 137.915.
Preferred Direction: Sell
Entry Level: 142.550
Stop Level: 145.020
Target Level: 137.915
Technical Indicators: 20 EMA
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
