USD/JPY Extends Its Downtrend – Sellers in Control

USD/JPY continues to extend its downtrend, trading around 149.455, and remains restricted within a parallel price channel.

The U.S. dollar remains weak in the market, making it difficult for USD/JPY to find any recovery momentum. From a technical perspective, the pair has yet to show signs of a strong reversal, as the EMA 34 continues to trend downward with no sign of ending.

Bearish market sentiment persists, keeping selling pressure high and extending USD/JPY’s losing streak.

From a personal standpoint, as long as sellers defend the price channel, selling strategies remain a priority. What about you?