Title
USDJPY H4 | Breaking support level?
Type
Bearish Reversal
Preference:
Price is breaking through the support at 145.315, an overlap support, and is heading to our 1st support at 144.582, a pullback support
Alternative scenario:
Price could bounce off the 1st support at 144.582 and rise to our resistance level at 146.563 an overlap resistance.
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Desmond Leong runs an award-winning research firm (The Technical Analyst finalists 2018/19/20 for Best FX and Equity Research) advising banks, brokers and hedge funds. Backed by a team of CFA, CMT, CFTe accredited traders, he takes on the market daily using a combination of technical and fundamental analysis.