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2/25/2016 2:47:16 AM

USDJPY trades within a descending price channel's range - Technical Analysis - 25-02-2016



USDJPY fell in the short term, leaning on the pivotal support of 111.35, coinciding with another lean on the support of that descending price channel that confined the pair's movements in the previous short-term trading. The pair then gained positive momentum that bounced it higher, testing thereafter the ceiling of that price channel, to fall again following that, with an influx of negative signals from relative power indicators.

Therefore we expect more losses to come for the pair as long as it trades within that price channel, targeting the pivotal support of 111.35 again.


Target
Risk


Support
Resistance


Trend Bearish

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