USDJPY Market Is Expected to Settle Below the Level of Consolidation

USDJPY Price Analysis – December 2

USDJPY market plans to set up below the consolidation level of 112.690 zones as a result of sellers’ persistence in the market. The bears plan to set up the movement of the price in a bearish order flow in the market. Furthermore, the sellers are willing to cause a huge movement in the market as the bearish price momentum proceeds with the trigger. Despite the bull’s effort in taking the price to a high-significant level of 115.500 zones, the sellers now withhold the strength of the price action, which reflects that the bullish trend is over and the bears are swift to continue.

USDJPY Important Zones:

Resistance Zones: 115.500, 112.690
Support Zones: 110.800, 108.860

USDJPY Long Term Trend: Bearish

USDJPY market becomes more evident after a series of price movements in the lower significant zones. The price order sequence ranged between the levels of 110.800 and 108.860 significant zones. Following this price range, the push gave more persistence to the market and the price eventually rallied above the 110.800 significant zones. After this uprising, the bears also decided to set up price movement downward for a retest before the bulls eventually took control.

As a result of this, the market experienced a major uptrend movement as the price broke through the 112.690 significant level. The price in the market then commenced another accumulation notch above this level. This gave expression to both the bulls and the bears as price strength was evident between them. The daily chart provides us with the market situation as USDJPY plans to set up price orders below the 112.690 significant zones. The MACD (Moving Average Convergence Divergence) Indicator shows signals of price crossing each other as it prepares you to continue down below the 0.00 level.

USDJPY Short Term Trend: Bullish

The price range of values is seen on the scale of the 4-hour chart as the bulls and bears apply pressure on the market. With their presence, they have a strong influence. The MACD lines are clearly below the 0.00 level as the price prepares to travel down. However, the Parabolic SAR (Stop and Reverse) shows dots following the uptrend because the market will likely also prepare for a pullback before the bears plan to sell below the consolidation level.

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