The legend in the InstaSpot team!
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USDJPY is making lower lows and lower highs. Trend remains bearish. Price is trading at 109.25 and as we explained in previous posts our first target is at 108.20 where the 38% Fibonacci retracement is found.
Blue lines -Fibonacci retracements
USDJPY has provided us with a bearish signal back in July when the red support trend line was broken. Price is expected to move lower towards the 38% Fibonacci retracement. Our view will remain bearish as long as price is below 110.50.
*这里的市场分析是为了增加您对市场的了解，而不是给出交易的指示。
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