USDJPY H1: Bearish outlook seen, further downside below 140.00

31 พ.ค. 2023

Price is hovering below a key resistance zone at 140.00 on the H1 timeframe, which is in line with the 38.2% Fibonacci retracement. A pullback to this zone could present the opportunity to play the drop to the next support zone at 138.80, which coincides with the 78.6% Fibonacci retracement. Price is holding below the Ichimoku cloud, supporting our bearish bias.