USDJPY → No upside potential. Prepare to fall!

30 Sep

USDJPY is facing a sell-off at the end of last week, which proves that the currency pair is not ready to go up. The dollar still continues to prepare for a breakout of 100.0.



The currency pair is not able to approach the local highs, however, after the reduction of interest rates in the U.S. Japan refrained from any economic decisions regarding this issue. The pressure on the dollar has a corresponding effect on the currency pair. At the moment the price is facing a strong support at 141.74, from which a small correction to the liquidity or imbalance zone may follow, but with a high probability (technical and fundamental nuances) we may see a continuation of the fall.

Resistance levels: 143.25, 144.0, 145.18
Support levels: 141.74, 139.5

In the short term, I expect a slight pullback followed by a continuation of the fall, breakdown of the key support and price decline to 139.5-138

Rate, share your opinion and questions, let's discuss what's going on with ★ USDJPY ;)

Regards R. Linda!