USD/JPY: Bearish Downtrend Persists, Short Setup in Focus
The USD/JPY currency pair continues to exhibit a bearish downtrend, as previously highlighted in the analysis. The price has encountered a rebound within the resistance zone of 138.000 - 139.000. Given this context, we are currently seeking a short trading setup that aligns with the overall downward trajectory of the pair.
Despite any potential short-term fluctuations or counter-trend movements, our focus remains on the prevailing bearish momentum. The resistance area mentioned has served as a significant hurdle, preventing the price from further upside movements and reinforcing the bearish sentiment.
As market participants, we are actively monitoring the price action and identifying suitable entry points for a short position that aligns with the primary downtrend. By capitalizing on the continuation of the bearish trend, we aim to take advantage of potential downside moves in the USD/JPY pair.
Despite any potential short-term fluctuations or counter-trend movements, our focus remains on the prevailing bearish momentum. The resistance area mentioned has served as a significant hurdle, preventing the price from further upside movements and reinforcing the bearish sentiment.
As market participants, we are actively monitoring the price action and identifying suitable entry points for a short position that aligns with the primary downtrend. By capitalizing on the continuation of the bearish trend, we aim to take advantage of potential downside moves in the USD/JPY pair.