USDJPY: Bearish Breakout
Price broke out of a very strong rising trendline support
Which also aligns with the 38.2% Fibonacci
Retracement level to the downside
As you can see, the RSI indicator is in the oversold territory.
I think we might see a potential pullback to the support
Turned resistance zone
From where we might see momentum carry price to the downside
Which also aligns with the 38.2% Fibonacci
Retracement level to the downside
As you can see, the RSI indicator is in the oversold territory.
I think we might see a potential pullback to the support
Turned resistance zone
From where we might see momentum carry price to the downside
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