USDJPY Faces Potential Losses As Selling Strength Emerges

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Market Analysis – March 11

USDJPY faces potential losses as selling strength emerges. The pair has recently shown signs of potential losses, as the bears have awakened from their slumber and breached the key level of 149.400. Before this downward expansion, the pair remained relatively silent above the significant level of 149.400, as the buyers slowed down their momentum.

USDJPY Market Levels

Resistance Levels: 151.210, 149.410
Support Levels: 145.000, 140.200

USDJPY Long-Term Trend: Bullish

In the past few weeks, the price has been accumulating, unable to break beyond the significant level of 151.200. Meanwhile, the bulls have established a clear trend this year, finding support around the key level of 140.200. However, the bullish momentum is now declining, and the sellers’ hope is growing stronger.

Earlier this year, the bulls gained strength and pushed the price of USDJPY above the key level of 145.000. However, after this breakthrough, the sellers initiated a pullback. Despite this temporary setback, the buyers managed to rally even stronger, reaching the key zone of 151.200. However, the bullish momentum is now waning, and the sellers are gaining confidence in their pursuit.

USDJPY Short-Term Trend: Bearish

It is only a matter of time before the buyers face resistance and the price of USDJPY pulls back to the next support level. This support level is expected to be around the key zone of 145.000, where the sellers may find a better entry point in the short time frame. By utilizing forex signals, sell traders can enhance their decision-making process.

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