USD/JPY Price Analysis: Bears in charge while below 136.50 USDJPY Technical Analysis
The M-formation is a topping pattern and given the break of the trendline, the bias is to the downside while below the neckline of the attern near 136.50.We have an M-formation on the 4-hour chart as well, and while the bias is for a test higher, the breakout of the grouping of the price could go either way. However, again, the bias is lower while below 136.50. As for the hourly chart, the support below the break of the trendline is being tested while the 135.20s stay intact, so far.
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