USDJPY Breaks Support and Turns Bearish

U.S. Dollar/Japanese Yen FX:USDJPY


USDJPY has broken its weekly support and we can expect a decline in price. Thus, we can hope for a good opportunity to short. Price is currently retesting the broken support, and if we’re lucky, this support might become the new resistance level . However, there will be a USD news release by 16:00 GMT , so traders are advised to watch out for that time. For technical analysts without experience in fundamental analysis , I’d advise closing your USD trades before 15:30 GMT . I’ll be happy to know what you guys think. Supports and critics are welcome alike. Thanks!

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