USD/JPY - Breakdown Confirmation & Potential Decline
Chart Overview:
The USD/JPY price action has broken down from a previously established ascending channel.
A lower high formation suggests weakening bullish momentum, indicating a potential continuation of the downtrend.
The key support zones are marked below, with the price likely to move towards these levels if bearish momentum persists.
Technical Analysis:
Breakdown Zone: The price has breached the lower trendline of the ascending channel, confirming a bearish breakdown.
Resistance Levels: The price faces resistance around 0.0067786 - 0.0068488.
Support Targets: Possible downside targets at 0.0066848, 0.0066012, and 0.0065720.
Bearish Confirmation: A retest of the breakdown level followed by rejection strengthens the bearish outlook.
Trade Consideration:
Bearish Bias: A short position could be considered if the price fails to reclaim the broken trendline.
Stop Loss: Above the breakdown zone to avoid potential fakeouts.
Target Levels: Lower support zones for potential take-profit areas.
Conclusion:
The breakdown from the rising channel suggests a shift in market sentiment, with a bearish move likely. Traders should monitor price action for further confirmations.
Chart Overview:
The USD/JPY price action has broken down from a previously established ascending channel.
A lower high formation suggests weakening bullish momentum, indicating a potential continuation of the downtrend.
The key support zones are marked below, with the price likely to move towards these levels if bearish momentum persists.
Technical Analysis:
Breakdown Zone: The price has breached the lower trendline of the ascending channel, confirming a bearish breakdown.
Resistance Levels: The price faces resistance around 0.0067786 - 0.0068488.
Support Targets: Possible downside targets at 0.0066848, 0.0066012, and 0.0065720.
Bearish Confirmation: A retest of the breakdown level followed by rejection strengthens the bearish outlook.
Trade Consideration:
Bearish Bias: A short position could be considered if the price fails to reclaim the broken trendline.
Stop Loss: Above the breakdown zone to avoid potential fakeouts.
Target Levels: Lower support zones for potential take-profit areas.
Conclusion:
The breakdown from the rising channel suggests a shift in market sentiment, with a bearish move likely. Traders should monitor price action for further confirmations.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.