Economic Calendar
The occurrence of volatility may be anticipated due to upcoming fundamental news from both the United States and Japan.
USD/JPY hourly chart analysis
In the short term, the FX pair is experiencing sustained bearish momentum, which could lead to a gradual decline toward the key support level at 142.00. This level is significant from a technical perspective, as it has previously acted as a strong demand zone where buyers have stepped in to halt further declines.A clean break and close below 142.00 on higher volume could open the door to further downside targets, while any bullish reversal patterns forming near this area might suggest a potential rebound or consolidation phase.
Hourly Chart
USD/JPY daily candle chart analysis
A long-term descending channel may be forming, suggesting a continued bearish trend. If the pattern holds, the price could stay within the channel and gradually move toward the key support level at 140.000. Traders should watch for reactions near the channel boundaries, as a break below support could confirm further downside, while a breakout above the channel may signal a trend reversal.
Read More: Technical Analysis
Traders sentiment mixed
Continuing previous week, traders' sentiment is mixed, with long positions making up the majority at 55%, while 45% represent the short side. However, no significant bias related to USD/JPY has occurred.
Continuing previous week, traders' sentiment is mixed, with long positions making up the majority at 55%, while 45% represent the short side. However, no significant bias related to USD/JPY has occurred.