From TradingView · · 40s
USDJPY Resistance Retest Could Trigger Bearish Move
USDJPY may drop after retesting resistance near 158.16.
In brief
USDJPY may drop after retesting resistance near 158.16. USDJPY could fall to 157.70 if it retests resistance at 158.16. Originally reported by TradingView.
USDJPY Trading Range
USDJPY is currently trading inside a well-defined intraday resistance zone near 158.12 - 158.16 after recovering from recent downside moves.
Resistance Retest Risk
Price approaching key supply area with strong seller interest could trigger bearish continuation if buyers fail to establish acceptance above resistance.
Bearish Targets
Target 1: 157.92, Target 2: 157.82, Target 3: 157.70 with invalidation at sustained breakout above 158.16 - 158.20.
The big picture
USDJPY could fall to 157.70 if it retests resistance at 158.16.
