The currency pair still trades in a bullish market zone.
Buyers remain dominant in the market at the moment.
USDJPY Weekly Price Analysis – March 22
At the moment the USDJPY has started dropping and the price may slide below the slide below the $140.79 low mark if additional efforts are added by the short traders. The target by the bears might be the $139.00 lowest support value.
USDJPY Market
Key Levels:
Resistance levels: $140.000, $141.000, $142.000
Support levels: $130.000, $129.000, $128.000
USDJPY Long-term Trend: Bullish
The currency pair still trades in a bullish trend zone in its long-term view. The bears having started their downward move could slide below the support level soon. 
The sustained bullish pressure on the currency pair to a $151.81 high level during yesterday’s session has enhanced the price to remain in an uptrend today.
The drop in the price of USDJPY to the $150.26 low value as the daily chart commenced today is an indication that the bears are set to take over the market and the price may slide below the support level soon, paving the way for the sell traders to place their orders.
Further, an increase in the selling pressure might lead the price of USDJPY to retest the previous low of $140.24 level, obtaining a higher footing to rise higher.
Additionally, the currency pair may slide below the previous low of $140.24 support level as indicated by the daily signal pointing upwards. This may push the USDJPY price to slide down to a $139.00 lower support level in the upcoming days in its long-term outlook.
USDJPY Medium-term Trend: Bullish
The currency pair is preparing for its downward move and the slide may drop below the support level soon in its medium-term outlook. The price bar is seen above the moving average which confirms its bullish trend.
The intervention from the bulls at the $151.75 high point in the previous action has made the Yen price stay above the supply trend line in recent times.
The bulls lost momentum, as the 4-hourly chart opens today with the formation of a bullish pin bar candle at the $151.08 support level as sellers continue to dictate the market at the moment.
Increased momentum by the bears may slide the price of USDJPY further down to a $146.63 lower support level as it journeys down south.
The momentum indicator shows that the price signal is also moving downward at around level 63% as we expect the price distribution of USDJPY to slide down to the $139.00 lower support level in the days ahead in its medium-term perspective.
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