Weekly Market breakdown: USD/JPY analysis

9 มิ.ย. 2019

price has demonstrated a lot of bearish pressure, however, we have reached a key area of institutional demand and dynamic area of support as previous price action showed that 108.000 was an area of accumulative orders. If price closes as a Doji candle then the price could reverse to the key psych zone of 110.000 candles on smaller time frame must demonstrate a break above-counter trendline to then form a new lower high. On a longer-term perspective, the price could show further downside due to heightened tension between China and the US.