USDJPY, H4
On the H4 timeframe, USDJPY moves downwards in a descending channel.
The MFI oscillator shows a bearish divergence with the asset and the Parabolic SAR started to point the dots below the price, potentially indicating a bullish momentum for the USDJPY. This setup gives us further scenarios:
- If the price breaks above the 143.50 resistance, it will open the way to 145.50 and further breaching will propel the asset to 149.30;
- However, a rebound from the 143.40 may trigger a decline to 141.20 support.
