{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/usdjpy-more-downsides-possible-watch-for-sell-3\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/usdjpy-more-downsides-possible-watch-for-sell-3\/","headline":"USDJPY: More Downsides Possible, Watch for Sell","name":"USDJPY: More Downsides Possible, Watch for Sell","description":"USDJPY is facing more pressure from the bears. Overall market sentiment regarding the currency pair remains bearish. USDJPY Weekly Price Analysis \u2013 January 27The USDJPY may likely continue its bearish movement if the daily candle closed below the $126.361 level, the support levels of $126.221 and $126.021 may be the target. USDJPY MarketKey Levels:Resistance levels: […]","datePublished":"2023-01-27","dateModified":"2023-01-27","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2023\/01\/USD-LNT.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2023\/01\/USD-LNT.png","height":489,"width":1280},"url":"https:\/\/forexschoolonline.com\/usdjpy-more-downsides-possible-watch-for-sell-3\/","about":["Forex Trading Tools","FX Technical Analysis","Trade Idea","Trade Setups","USD\/JPY"],"wordCount":444,"keywords":["FX Technical Analysis","US Dollar Japanese Yen","USDJPY"],"articleBody":"USDJPY is facing more pressure from the bears. Overall market sentiment regarding the currency pair remains bearish. USDJPY Weekly Price Analysis \u2013 January 27The USDJPY may likely continue its bearish movement if the daily candle closed below the $126.361 level, the support levels of $126.221 and $126.021 may be the target. USDJPY MarketKey Levels:Resistance levels: $136.000, $137.000, $138.000Support levels: $130.000, $129.000, $128.000USDJPY Long-term Trend: BearishAnalyzing the daily chart above, we can clearly see USDJPY trading below the two moving averages, this means that the momentum is in a bearish market zone in its long-term outlook. The bears made a drop to the $129.725 support level before the end of yesterday\u2019s session and sustained it. This has made the momentum in the price of the Yen remain in a downward trend.The bears continue with the journey down south and dropped the currency pair down to the $129.511 low level below the supply trend levels as the daily chart opens today.Impulse move from the sell traders further dropped the market value of the USDJPY down to a $129.260 low level below the moving averages; this suggests a downward momentum in the price of USDJPY at the present. The price bars which are below the moving averages make it capable of falling to the downside. Additional efforts by the short traders could further drop the price of the Yen downsides to retest the $126.361 support level.However, continuation to the downside is likely as the stochastic indicator also shows the price of the pair pointing downwards, we, therefore, expect sellers to continue the bearish trend in the coming days and the $126.021 support value might be reached soon in its long-term perspective.USDJPY Medium-term Trend: BearishUSDJPY continues in a downtrend market in its medium-term outlook. The pair\u2019s market price is dropping as we can see from the chart below. The sustained bearish pressure dropped the pair further down to the $129.023 support level during yesterday\u2019s session. The bears moved the price of the Yen down to the $129.414 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 the further bullish trend is hindered, the selling pressure might possibly extend to the currency pair price to a low at the $126.021 value.In a like manner, the stochastic oscillator pointing down at around level 25%, as a result of this, the currency pair might possibly hit the $126.021 support level in the days ahead in its medium-term perspective.Note:\u00a0Forexschoolonline.com\u00a0is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results."}