USDJPY Analysis April 5, 2020

On the monthly timeframe we are still bearish and currently within the bottom half of our range. Down to the daily timeframe we are currently testing our 200 day moving average after falling below. So live price is currently below the average of price over the last 200 days which is important to note. On the H4 timeframe we are actually bullish and formed a double bottom at the red highlighted zone. This is important as we should wait for a break of this level before targeting lower.