21-05-2025
- Business
- Wall Street Journal
USD/JPY's Bearish Trend of Last Summer Has Likely Resumed, Chart Shows
0039 GMT — USD/JPY's bearish trend that started last summer may have now resumed, based on the weekly chart, says Fawad Razaqzada, market analyst at City Index and in an email. The currency pair formed an 'inverted hammer candle' last week when it tested and retreated from the bottom end of a key resistance area between 148.65 and 150.00, the analyst says. The fact that resistance held here suggests this bearish trend has resumed, Razaqzada says. If downward pressure on USD/JPY continues, possible short-term bounces may occur around levels like 144.00 and 143.00, the analyst adds. USD/JPY is 0.2% lower at 144.18. (
