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Technical Analysis Posted 3 hours ago

USDJPY: Bearish Reversal from 162.0 Resistance Zone

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USDJPY has reversed sharply from the long-term resistance level at 162.0, which halted the weekly uptrend in 2024. The pair is trading below this critical zone near the upper Bollinger Band. Bearish bias dominates with downside target at 160.00 support. Watch for breakdown confirmation below current levels.
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3 hours ago

USD/JPY Corrects from 162.85; Support at 161.85 Under Pressure

USD/JPY has initiated a sharp downside correction from 162.85, breaking below a key bullish trendline. The 161.85 support level on the 4-hour chart is now critical. With the dollar failing to sustain momentum, traders should watch whether support holds or if further downside follows. Bias remains neutral pending confirmation.

https://www.actionforex.com/contributors/technical-analysis/646019-usd-jpy-hits-a-speed-bump-can-support-stop-the-slide/
What are your thoughts?

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@asuquokelvin · 1 hour ago

It reached the ceiling, bumped its head, and suddenly remembered it had other places to be.

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