USDJPY follows our trading plan with a move lower

USDJPY has shown bearish signs since last week. Price has now broken below short-term key support levels and we are heading towards 104 which is our first target area. Trend is bearish as price continues to make lower lows and lower highs.

Pink line – resistance

Since last Tuesday where we pointed out the rejection at the long-term downward sloping resistance trend line, price has fallen more than 100 pips. Price has broken the support levels at 105.90 and 105.30 we discussed in previous analysis. Price is below 105 and heading towards our first target area. A break below 104 is justified and we expect price to move below it until next week.

The material has been provided by InstaForex Company – www.instaforex.com

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MOKAR

Author: MOKAR

Mula berdagang dalam pasaran forex sejak tahun 2003. Manakala pasaran bursa saham tempatan dan global pada tahun 2018. Menjadikan trading online sebagai kerjaya sepenuh masa pada tahun 2019. Kerjaya sebelum ini adalah seorang salesman kereta. Berpengalaman dengan pelbagai teknik dan perguruan tetapi akhirnya sangat serasi dengan teknik FMCBR @ Fibo Musang melalui guruku Cikgu Baha & Cikgu Zul.

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