USD/JPY Technical analysis

Source: Dukascopy Bank SA
The USD/JPY 1-hour chart shows a strong bearish trend, with the price consistently trading below the 24 and 100 period moving averages. The critical support level to watch is 146.000. A firm break below this level would confirm the downtrend is likely to continue.



For any bullish reversal, the price would first need to reclaim the area above the moving averages and overcome the major resistance zone around 148.000. The current outlook remains bearish.

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