source: Market Crowd Hunter EA
#forex #USDJPY
JPY continues to strengthen against the background of the general weakness of the dollar.
The price continues to move in the second child descending channel.
At the same time, the 50-day moving average (orange) crosses the 200-day (blue) moving average, which is a strong technical signal for a decline. The last time in the USDJPY pair, these 2 moving averages crossed in March 2021, after which USD JPY increased by 44%!
Inflation data will be published in an hour, which can both sharply turn the market around and strengthen the downward momentum.
The breakdown of the support level of 130.50 – 131.45 opens the way to the levels near 126.40. In the event of a rebound, we can expect growth and a re-test of the moving averages near 136.70
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