All roads head south for USDJPY - Technical Analysis - 10-02-2016
USDJPY kept dropping in the intraday levels with the pair trading within a descending price channel that limited its previous short-term movements as shown in the attached chart, along with ongoing negative pressure from SMA50. The pair then hinted at forming a negative technical pattern that is complimentary to that main downward trend, the Symmetrical Triangle, which doubles the negative pressures on the pair's next movements, especially if it broke through its support.
Therefore we expect more decline for the pair, targeting the support of 113.30.
Trend
Bearish