USDJPY to continue southbound

١٣ أغسطس

USDJPY has been on a strong downward trend for a month now, with very few pullbacks. Now price has finally made a pullback to the H4 EMA50 in the form of a pennant pattern. The top of the pennant @148.00 is proven to be an extremely strong resistance as price has rejected it 4-6 times. Now price is making its move down to continue the downtrend. A lower low has been made.