The USDJPY – Guide, Tips & Insights | Learn 2 Trade – Guide, Tips & Insights | Learn 2 Trade market is currently experiencing its second major trend this year. The first half of the year was characterized by a strong bullish trend. However, this trend reversed with a breakout from the bullish parallel channel, leading to a sustained bearish movement. Since the bearish breakout, the price has continued to dip, attacking multiple demand zones.
The Smoothed Heikin Ashi Candles signalled the bearish shift in USDJPY – Guide, Tips & Insights | Learn 2 Trade – Guide, Tips & Insights | Learn 2 Trade. Throughout the pullbacks during the uptrend in 2024, the Smoothed Heikin Ashi Candles’ hue remained green and unchanging. At the point of reversal, the hue turned red as the custom daily candles fell below the Heikin Ashi Candles. The Stochastic further confirmed the reversal by being in the overbought zone when the hue of the Smoothed Heikin Ashi Candles changed from green to red.
The price has broken through the demand levels of 156.30 and 151.90. At the break of each of these demand levels, the price dip temporarily paused for a few days before resuming its downward movement.
The USDJPY – Guide, Tips & Insights | Learn 2 Trade – Guide, Tips & Insights | Learn 2 Trade market structure is bearish on the lower time frames. The Stochastic indicator shows that the price is oversold on both the higher and lower time frames. This may cause a temporary rise in price towards the bearish order block resting at 151.90 to offset more short orders. The bearish order block provides an optimal entry point according to the best forex signals.
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USDJPY – Guide, Tips & Insights | Learn 2 Trade – Guide, Tips & Insights | Learn 2 Trade Short-Term Trend: Bearish
