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Daily Technical Analysis for USDJPY
Clearly, the pair is in downtrend for daily timeframe. Current technical formation says that the pair should continue to fall as the price stays below 119.15 level.
There are two paths for the continuation of downtrend. Both alternatives are shown on the following picture with different colored lines.
Although my preference is yellow line. The path drawn in red is also possible.
Daily targets for the pair 117.80 and 116.80 level(s).
Clearly, the pair is in downtrend for daily timeframe. Current technical formation says that the pair should continue to fall as the price stays below 119.15 level.
There are two paths for the continuation of downtrend. Both alternatives are shown on the following picture with different colored lines.
Although my preference is yellow line. The path drawn in red is also possible.
Daily targets for the pair 117.80 and 116.80 level(s).