USDJPY – Down
The expected decline in the pair has not materialized yet. The price continued to rise, but the movement lacks conviction, resembling more of a correction. Most likely, that’s exactly what it is. Therefore, the development of the next downward wave may start soon.
This could happen from current levels, considering that the price has encountered a resistance level. The ongoing decline will lead to a retest of the current lows.
In this regard, it is worth considering opportunities to enter short positions at the current market values, setting a protective stop-loss order slightly above the indicated resistance level.
Investment idea: Sell at 148.30, stop loss at 148.60, take profit at 145.00.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
