USD/JPY Price Analysis: Bears pressure trendline support USDJPY Technical Analysis
On the face of it, things would appear bullish given the trendline and holding above the 135.20s horizontal support that guards 134.05 below it.
We have Day 1 shorts and Day 2 Shorts in the market which is building the case for a significant move lower. The thesis is that bears are lurking up high and will be looking to sell at a premium, fading any rallies in the high-volume sessions such as in London and US. A break of 135.20 opens the risk of a move to 134.00 for the near future for a test of last week's lows. Information on these pages contains forward-looking statements that involve risks and uncertainties.
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