The USD/JPY continues to fall after breaking below a flag -shaped channel, reaching last year’s minimum around 139.50/138.90. Without clear signs of a rebound, the pair remains vulnerable to more losses towards key projections in 136.50 and 134.80 unless the support is maintained, the Société currency analysts indicate Générale.
Without rebound signs while the bearish trend accelerates
“The USD/JPY has expanded its decline phase after breaking below an ascending channel in the short term that resembles a flag. It has reached the minimum last year of 139.50/138.90. The signs of a significant rebound are not yet visible.”
“The maximum of last week of 144.30 is short -term resistance. The inability to defend 139.50 can result in the persistence of the decline. The next objectives could be located in the projection of 136.50, which is also the lower limit of the channel set since last year (logarithmic scale) and 134.80.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
