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24.03.2023 07:07 AM
USDJPY, H4 | Strong descending trendline ?
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The USD/JPY pair currently has a weak momentum with low confidence due to its position below a major descending trend line, indicating possible bearish momentum. Breaking off from the first support at 130.39 could lead to a potential drop to the second support level at 128.10, which is a multi-swing low support level. On the resistance side, there are two overlap resistance levels at 132.81 and 134.55. However, due to the weak momentum and low confidence, it's challenging to predict whether the price will break above or below these levels.

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Dean Leo,
Analytical expert of InstaTrade
© 2007-2025

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