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- USD/JPY Price Analysis: Key daily trendline support under pressure
USD/JPY Price Analysis: Key daily trendline support under pressure
- USD/JPY is testing key daily trendline support.
- Bears eye a break of support and 133.50,20,00 are key levels.
USD/JPY is flat into the close in FX on Thursday´s US session after correcting back into the trendline resistance area as the following charts on the 1-hour time frames and the daily chart will illustrate below:
USD/JPY H1 charts
The price was heavily offered in the Wall Street opening hours but the bulls scrambled back from the lows of the day down at 133.50 which now is a critical support into Friday as Nonfarm Payrolls looms. The chart above is a bearish scenario in this regard with 133.20-00 eyed as a near-term objective.
On the other hand:
We could see the bulls committing from between 133.50, or thereabout, and 133.80. this would leave the outlook uncertain albeit still on the front side of the trendline within a bearish environment.
USD/JPY daily chart
On the other hand, the daily chart´s bullish trendline is still intact:
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