Relevance up to 15:00 2022-06-21 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
Blue line -support
Blue rectangle- target if support fails to hold
USDJPY is trading around 134.93. Price is again near its 2022 highs. The chances of a major reversal and pull back towards 130 remain high. Today however we will focus on a short-term pull back that might be triggered soon. After a sharp rise from 131.47 towards 135.35, price is moving sideways over the last couple of days. Support is at 134.50. Failure to hold above this support will be a bearish signal. If the break down occurs, we should then expect USDJPY price to move towards the blue rectangle target area.
