USDJPY downside reversal has started
USDJPY is reversing from 150 and is breaking below the long-term solid downside resistance of 141 as we can see on the monthly chart. This leads to a considerable downside reversal targeting 127 in the medium term.Â
On the weekly chart, we can see five upside waves being finished by this break below 141, the level which was broken and retested last week. We got a new rejection candle that is indicating that we will see a downside reversal continuation potentially in the coming days and weeks.
On the daily chart, we can see a good RR trade opportunity…
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