Aurum Markets Blog Technical Analysis Possible start of a bearish trend as USDJPY breaks support

Possible start of a bearish trend as USDJPY breaks support

Possible start of a bearish trend as USDJPY breaks support post thumbnail image

USDJPY has broken through a support line. Because we have seen it retrace from this price in the past, one should wait for confirmation of the breakout before trading. It has touched this line numerous times in the last 8 days and suggests a possible target level to be around 146.1615 within the next 2 days.

Supported by Downward sloping Moving Average

Target: 146.1615 Entry: 146.6935 Stop: 147.3158

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