USD/JPY price is being fed as 137.191 right now; this price is moving just below a dynamic support line, which is indicated as a blue ascending wave on the chart. This support zone has already been broken and the bullish power has started to decrease. The ascending slope of the chart has decreased significantly. Based on all analysis, bears are taking the control of the market. MACD is showing bearish wave on going, MACD bars are turning dark red MACD, and MACD line has smoothly broken below the signal line. RSI is showing 55 and has issued negative divergence signal. An entry for a short position is when the price line touch 137.100, The target for the descending wave could be considered on 136.850 and 136.760.

• There is resistance at 137.290, followed by resistance at 137.390 and 137.390
• There is support at 137.030 Below, there is 136.850 and 136.760.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruacdtion for trading.