USDJPY May Experience Bearish Fallout 

USDJPY experience bearish fallout and potential entry points. Traders and investors are closely watching as the market heads back towards the significant level of 149.500. If this bearish momentum continues, sellers are likely to pursue lower prices in the new month. It has been a while since the USDJPY has been consolidating below the key zone of 151.170, and this accumulation has been ongoing for several days as March opens.

Resistance Levels: 152.000, 151.170

Support Levels: 149.500, 145.800

Before the current consolidation phase, the buyers had been dominating the market for quite some time. The bullish strength was evident as they overcame the resistance at the key level of 140.220. Since then, the buyers have been pushing the price higher, aiming for the old high at the 152.000 key level. However, the bulls were forced to pull out, leading to the price consolidating around the 151.170 market level. This consolidation phase has set the stage for a potential bearish breakout.

The market is currently showing signs of yielding to a bearish setup. One indicator that suggests bearish momentum is the Moving Average crossing, which is likely to bring about a cross in the market soon. This is a significant signal for traders to pay attention to. Additionally, forex signals can also provide valuable insights into potential entry points.

One key level to watch out for is the significant level of 149.500. If the price breaks below this level, it could signal a strong bearish move. Traders should anticipate a breakout below this level and be prepared to take advantage of the potential downward momentum. It is important to note that trading involves risks, and it is always recommended to use proper risk management strategies.

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