USDJPY Plunges as Bearish Reversal Takes Hold
Login

USDJPY Plunges as Bearish Reversal Takes Hold

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Market Analysis – July 11

The USDJPY market has undergone a significant bearish reversal, marked by the emergence of three black crows, following a period of accumulation within the supply zone of around 146.0. This sharp price decline has invalidated the previously established bullish order block and firmly confirmed the commencement of a downward trend.

USDJPY Key Levels

Supply Levels: 144.0, 146.0, 148.0
Demand Levels: 138.0, 132.0, 124.0

USDJPY Plunges as Bearish Reversal Takes Hold USDJPY Long-Term Trend: Bearish

Technical indicators provide further evidence of this bearish sentiment. The Moving Averages, specifically the nine and twenty-one periods, have shifted positions to rest above the daily candles, signaling the establishment of a new downward trend. This crossover adds weight to the bearish outlook.

In addition, the MACD (Moving Average Convergence and Divergence) indicator has crossed above the zero mark, indicating a selloff from an overbought region and reinforcing the bearish momentum in the market.

Looking ahead, the relative equal low at 138.20 holds significant liquidity and serves as the next target for sellers. Traders and investors are closely monitoring this level as it represents a potential area of support turned resistance.

USDJPY Plunges as Bearish Reversal Takes HoldUSDJPY Short-Term Trend: Bearish

The 4-hour timeframe indicates a prevailing bearish sentiment in the market. In summary, the USDJPY market has experienced a notable bearish reversal following the emergence of three black crows from the accumulation phase within the supply zone. The shift in Moving Averages, coupled with the MACD crossover, further validates the bearish sentiment. As the price continues to decline, sellers are eyeing the relatively equal low at 138.20 as the next significant target.

Do you want to take your trading to the next level? Join the best platform for that here

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News