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- USD/JPY Price Analysis: Bears step on advances above 136.00
USD/JPY Price Analysis: Bears step on advances above 136.00
- USD/JPY bears have forced the bulls back below 136.00.
- Price remains capped below a 68.2% daily Fibo.
USD/JPY is bearish on the daily and lower time frames and has been sent off a cliff in the Tokyo open. The following illustrates the bearish bias and prospects of a move into 135.50 for the session ahead.
USD/JPY daily chart
USD/JPY H1 chart
The price has made three pushes to the upside but from an hourly perspective, but the price has failed through the 136.00 and was rapidly shot down by the bears in the open. The hourly candle has all of the makings for a strong bearish close which will break the horizontal structure and leave prospects of a red day on the table.
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