Sasha Singh
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Is USDJPY Confirming Bearish Trend?

(USDJPY : Daily Chart)

USDJPY finally declined below the 200 day SMA confirming a bearish move on the Daily Chart. Prior to the break down the pair was consolidating within a triangle. The nearest support pair may find is at 101.41 and if continues to decline the next support it will find is at 101.18.

(USDJPY : 4 Hour Chart)

However if looking at the 4 hour chart,the 50 day SMA crossed below the 200 day SMA confirming the bearish move. The pair should now experience resistance from the previous support level which is at 101.61.