USD/JPY has seen a sharp decline, dropping from 149.36 to as low as 144.45.
What to Expect Next
- As long as the 147.34 resistance level holds, the pair could continue to decline, with the next target around the 143.60 area.
- The fall from 149.36 appears to be a correction within the broader uptrend that began at 141.68.
- After this correction, another rise is likely.
Key Levels to Watch
- Initial resistance is at 147.34.
- A break above this level could signal the resumption of the uptrend from 141.68, with the next target at the 149.36 resistance level.
- If the price breaks above 149.36, it could aim for the 152.00 area.
Conclusion
USD/JPY is currently in a downtrend, but this may be a temporary correction within a larger uptrend. Keep an eye on the 147.34 resistance level, as a break above it could indicate the return of bullish momentum, with targets at 149.36 and potentially 152.00.More By This Author:USD/CHF: Downtrend Continues With Further Decline LikelyEUR/USD Continues Its Climb: Key Levels To Watch EUR/USD Analysis: Breaking Resistance And Key Levels Ahead
