USD/JPY Price Analysis: Bulls and bears butt heads at a key support juncture USDJPY Technical Analysis
The price is running into resistance as illustrated within the W-formation. This is a reversion pattern that opens risk towards the neckline and trendline support. There is firm resistance as seen on the 4-hour chart and we are now testing support.USD/JPY H1 chart
From an hourly perspective, the price is meeting support but while still on the front side of the bullish trend, there will be prospects of a continuation for the sessions ahead. If, however, the trendline breaks, the bears will be encouraged to move in.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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