Technical analysis of USD/JPY 08/02/2024
The USD/JPY currency pair at (1D) is in a downward correction.
The pair worked out the “Head and Shoulders” pattern, found support at the level of 148.55 (61.8% Fibo) and is currently consolidating in the area of 149.20.
If the price consolidates below the area of 148.50 (61.8% Fibo), this will mean a change in the trend to a downward one with a target in the area of 140.30.
The nearest resistance is the area of 151.00.
Created by Joshua Hayn
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