USDJPY is facing more pressure from the bears.
Overall market sentiment regarding the currency pair remains bearish.
USDJPY Weekly Price Analysis – December 22
The USDJPY is currently facing high pressure from the bears and more downsides are possible. The pair may likely continue its bearish movement if the bears increase their selling motives and close the daily candle below the $137.92 support level, the $132.00 lower support level might be the target.
USDJPY Market
Key Levels:
Resistance levels: $138.00, $139.00, $140.00
Support levels: $126.00, $125.00, $124.00
USDJPY Long-term Trend: Bearish
The USDJPY pair is in a bearish trend in its long-term view. Further, the price is trading below the EMA and more downsides are possible.
The bears made a drop to the $143.26 support level before the end of yesterday’s session and sustained it. This has caused the momentum in the price of the Yen to remain in a downward trend in its recent low.
The bears continued with the journey down south and dropped the USDJPY price down to the $142.80 support level below the EMA-50; this suggests a downward momentum in the price of USDJPY at present. The price bars below the moving averages could make more downsides possible for the bears.
Hence, an additional effort by the short traders could further drop the price of the Yen downsides to retest the $137.92 previous lower support level.
Adding to that, more downsides are possible as indicated by the stochastic indicator which is pointing downwards, we therefore expect sellers to continue the bearish trend and in this case, the $132.00 lower support value might be reached soon in its long-term perspective
USDJPY Medium-term Trend: Bearish
USDJPY continues in a downtrend market in its medium-term outlook. The pair’s market price is dropping and more downsides are possible as we can see from the chart below. 
The sustained bearish pressure dropped the pair further down to the $142.92 support level during yesterday’s session, making it possible for the pair to remain below the supply levels recently.
The impulse move from the bears moved the price of USDJPY down to the $142.87 support level below the moving averages shortly after the 4-hourly chart opens today as the bears continue to dictate the market.
Thus, should the bears increase their pressure and a further bullish trend is hindered, the selling pressure might extend to the currency pair price to a low at the $140.94 lower support value.
In a like manner, the stochastic oscillator is pointing down at around level 25%, as a result of this, more downsides are possible and this may drop the USDJPY price further to a $126.021 lower support level soon in its medium-term perspective.
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