USDJPY: strong downward adjustment scenario
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Overall, the volume of this pair is still decreasing. The downtrend gradually strengthens, because two reversal peaks form. In theory, the price will quickly break the nearest support level at 151.05 and correct further.
On the hour, stronger support at 150.35-150.35 was formed and the price pressed towards the support level twice, which increased the possibility of breaking the support level. But! If otherwise the buyers holding this zone could test the local highs before falling further. However, the DXY coin index is showing signs of turning down, thereby negatively impacting this pair, and we can expect a bearish scenario at this time.
Overall, the volume of this pair is still decreasing. The downtrend gradually strengthens, because two reversal peaks form. In theory, the price will quickly break the nearest support level at 151.05 and correct further.
On the hour, stronger support at 150.35-150.35 was formed and the price pressed towards the support level twice, which increased the possibility of breaking the support level. But! If otherwise the buyers holding this zone could test the local highs before falling further. However, the DXY coin index is showing signs of turning down, thereby negatively impacting this pair, and we can expect a bearish scenario at this time.
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Prices stabilized at high levels during the decline
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