{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/usdjpy-possible-reversal-to-the-upside-is-imminent\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/usdjpy-possible-reversal-to-the-upside-is-imminent\/","headline":"USDJPY Possible Reversal to the Upside Is Imminent","name":"USDJPY Possible Reversal to the Upside Is Imminent","description":"USDJPY is currently facing more pressure from the bears. A possible reversal at the $140.94 support level is imminent. USDJPY Weekly Price Analysis \u2013 December 15At the moment the USDJPY pair is facing the downside; a possible reversal at the $140.94 support level is imminent as the market is oversold. Meanwhile, the pair might finish […]","datePublished":"2023-12-15","dateModified":"2023-12-15","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\/12\/USDJPY-LNT-2.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2023\/12\/USDJPY-LNT-2.png","height":579,"width":1080},"url":"https:\/\/forexschoolonline.com\/usdjpy-possible-reversal-to-the-upside-is-imminent\/","about":["Forex Trading Tools","FX Technical Analysis","Technical Analysis","Trade Idea","Trade Setups","USD\/JPY"],"wordCount":516,"keywords":["FX Technical Analysis","US Dollar Japanese Yen","USDJPY"],"articleBody":"USDJPY is currently facing more pressure from the bears. A possible reversal at the $140.94 support level is imminent. USDJPY Weekly Price Analysis \u2013 December 15At the moment the USDJPY pair is facing the downside; a possible reversal at the $140.94 support level is imminent as the market is oversold. Meanwhile, the pair might finish the downward correction and start reversing soon if the bulls could exchange hands with the bears at the current support of $140.94 level. If this is achieved, the target may be the $152.00 upper resistance trend line. USDJPY MarketKey Levels:Resistance levels: $144.00, $145.00, $146.00Support levels: $141.00, $140.00, $139.00USDJPY Long-term Trend: BearishAnalyzing the daily chart above, we can clearly see that USDJPY is trading below the EMA-50, this means that the momentum is in a bearish market zone and a possible reversal at the current support is imminent in its long-term outlook. The sustained bearish pressure at the $142.62 low value during the previous session has made it possible for the price to remain in a downward trend in recent times.The downward trend continues today, as the daily chart opens with a bearish candle at the $142.50 support level, below the EMA-50. This is an indication of a more bearish impact on the currency pair.The impulse move from sellers further dropped the price of USDJPY down to the $140.94 support level as at the time of writing this article. Should the bulls change their orientation and exchange hands with the short traders at the mentioned support level, a possible reversal to the upside is imminent.Additionally, the selling pressure has been exhausted, and a price reversal to the upside at the $140.94 low level is imminent, as indicated by the daily stochastic, which is pointing down at around 9% in the oversold region.This will bring the emergence of the long traders to the market to resume the bullish trend, if this is achieved; the $152.00 upper resistance value might be the target in the near days in its long-term scenario.USDJPY Medium-term Trend: BearishUSDJPY continues in a downtrend market, meanwhile, a possible reversal to the upside is imminent 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 down to the $142.04 support level during yesterday\u2019s session; this has made it easier for the USDJPY pair to stay below the supply level in its recent low. Today\u2019s 4-hour chart opens with a bearish candle at the $141.45 support value below the EMA-50, this suggests that the sellers\u2019 inflow is higher and more active in the market at the present. However, a possible reversal at the $141.45 low value is imminent as the pair has reached the oversold region of the daily stochastic, if the buy traders should increase their price actions and all the current support level holds, a psychological key level at the $152.00 supply level might be reached soon in its medium-term time frame.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. "}