Weekly Technical Analysis of THE USD-JPY

Japanese Dollar: The pair is trading the US dollar against the Japanese yen in a bearish context within a downward channel on the daily chart, as shown in the chart above. However, the bearish momentum is slowly weakening and the price tries to touch the downtrend and gather the price near it. We expect prices to drop to the support represented by levels 102.80 - 102.30 to buy from them. Long positions can also be strengthened after breaking the downtrend.

Watch the analysis on the Telegram channel from here

Adjustment: 155 points won