USDJPY: The downward pressure on prices remains the same
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Greetings dear friends! Currently, USDJPY continues to move sideways as the Bollinger bands show no new fluctuations and continue to support the current trend.
In the absence of major economic data releases from Japan this week, the USD/JPY pair still depends on the price dynamics of the USD. However, the USD is still under pressure to decline, opening up a new downward trend for this currency pair.
On the other hand, any significant price slide can now find some support near the 149.00 level. A convincing break below this level could pull the USD/JPY pair towards the 148.30 area on the way to the round number 148.00. Further selling activity would reveal monthly lows around the 147.500 region, as shown on the chart.
In the absence of major economic data releases from Japan this week, the USD/JPY pair still depends on the price dynamics of the USD. However, the USD is still under pressure to decline, opening up a new downward trend for this currency pair.
On the other hand, any significant price slide can now find some support near the 149.00 level. A convincing break below this level could pull the USD/JPY pair towards the 148.30 area on the way to the round number 148.00. Further selling activity would reveal monthly lows around the 147.500 region, as shown on the chart.
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