‎USDJPY Anticipates Further Bearish Momentum

Market Analysis  – March 24

‎USDJPY has been exhibiting a strong bearish trend, with prices forming lower lows and a sharp decline in value. As the pair continues to navigate its downward trajectory, market participants anticipate further bearish momentum, driven by key technical levels and broader market structures. ‎

USDJPY Key Levels‎

Demand Levels: 151.000, 149.650, 145.850
‎Supply Levels: 154.390, 156.300, 158.480‎

‎‎USDJPY Long-Term: Bearish

USDJPY continues its downward trajectory after forming a major higher high at the 158.480 level. Since then, the pair has been consistently declining. The price has pierced through key demand zones at 152.000 and 149.650 as it moves toward the 145.850 support level. This decline aligns with the broader bearish structure, driven by a strong push to fill the daily Fair Value Gap (FVG) below this level.
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‎The daily Moving Average reinforces the bearish bias, serving as an additional confluence for sellers. Currently, a temporary bullish retracement is in play, testing a daily order block that is expected to act as a resistance level, potentially triggering another leg lower.‎

USDJPY Short-Term: Bearish

On the 4-hour timeframe, the recent bullish pullback appears to be a corrective move within the broader downtrend. However, a bearish break within this short-term uptrend signals a potential resumption of the primary downtrend. This aligns with the bearish momentum seen on the daily chart.

‎‎Market Expectations

‎USDJPY is expected to resume its downward movement, with the 4-hour timeframe indicating the commencement of the bearish trend. The primary objective remains to complete the daily FVG below the 145.850 level, reinforcing the prevailing bearish outlook.

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