Weekly Technical Analysis Report 28 July – Bearish outlook on USDJPY
July 28, 2023
Weekly Technical Analysis Report 28 July – Bearish outlook on USDJPY
1. This week’s outlook on USDJPY: Bearish outlook seen
Price has been adhering to the observed descending trendline on the H4 timeframe. A pullback to the key resistance zone at 141.00, which coincides with the 78.6% fibonacci retracement, could provide the bearish acceleration towards the next support zone at 138.20, which is in line with the 127.2% fibonacci extension. Price is hovering below ichimoku cloud and 20EMA, supporting our bearish bias.
Bearish outlook on USDJPY – 28 July by Salzworth on TradingView.com
