Sasha Singh
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Dollar Weakening Against Yen While Being Stronger Against Other Major Currencies

(USDJPY : 4 Hour Chart)

US dollar is trading higher elsewhere except against Japanese Yen. USDJPY is declining breaking below the 200 day SMA and currently testing support from the 100 day SMA. The next support level if the pair continues to decline will be 50 day SMA. Also seem like the pair is consolidating between the two contracting trend lines, therefore the pair should continue to decline till it find support from the rising trend lime.

(USDJPY : Daily Chart)

On the daily chart we can see a less slant trend line so the pair might breakout from the resistance trend line and find resistance from this less slant trend line. Also if the pair breaks below the rising trend line, it will find support at 101.29. Breaking below this key support will confirm the bearish trend on the pair. In all the pair seems like consolidating between the less slant falling trend line and the support at 101.29 forming a descending triangle trend which signals a bearish trend and the pair might continue to decline breaking the support of the triangle which is at 101.29.