The price line on USDJPY price chart has recently made a sharp bearish wave. The price line is now showing 139.631, approaching to level 0.382 of the Fibonacci retracement. RSI is almost on 33 and just above over selling area of the chart. The red line above the current position of the price line is indicating level 0.236 of the Fibonacci retracement; at 143.140.The price line has almost broken below Ichimiku Cloud and the overall view of the chart, seems bearish The price line is expected to have a retest of this area and then to continue its descending wave; there the sellers can enter short positions heading to the resistance levels below the price line.
• There is a resistance level at 143.600 followed by resistance at 145000 and 148.800.
• There is a support level at 137.500. Below, there is 133.000 and 130.
Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.
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