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The USD/JPY pair gained traction above the 145.00 mark during the early Asian session on Monday. The pair recovered despite the decline in the US Dollar. The market will likely have a quiet session amid the US bank holiday.
However, when considering technical trends and prospects:
USDJPY just broke the bullish Trendline and is in a corrective wave with betting resistance stopping the pair at 145,500.
The bears gained more advantage when the retracement exceeded the 0.5 Fibo level, showing that buying pressure has decreased a lot. If the 144,800 support level is broken, the bears will have more advantages in pushing the pair back to the 143,500 threshold.
And you, do you think USDJPY will increase or decrease in price?
The USD/JPY pair gained traction above the 145.00 mark during the early Asian session on Monday. The pair recovered despite the decline in the US Dollar. The market will likely have a quiet session amid the US bank holiday.
However, when considering technical trends and prospects:
USDJPY just broke the bullish Trendline and is in a corrective wave with betting resistance stopping the pair at 145,500.
The bears gained more advantage when the retracement exceeded the 0.5 Fibo level, showing that buying pressure has decreased a lot. If the 144,800 support level is broken, the bears will have more advantages in pushing the pair back to the 143,500 threshold.
And you, do you think USDJPY will increase or decrease in price?
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