Bears are ready to pounce at this juncture with a focus on near term support. Resistance on the daily time frame exposes 4-hour support. USD/JPY is failing to convince an upward trajectory and the focus is on the downside as the bulls meet a significant Fibonacci retracement area at a confluence of resistance structure. The following illustrates where the next downside opportunity comes in: Daily chart The bulls are testing a critical daily resistance at this juncture. Failures here open risk to the downside. 4-hour chart There are still prospects of a last-minute test of 4-hour resistance prior to the daily downside continuation. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next NZ First impressions: NZIER Quarterly Survey of Business Opinion, March quarter 2021 FX Street 2 years Bears are ready to pounce at this juncture with a focus on near term support. Resistance on the daily time frame exposes 4-hour support. USD/JPY is failing to convince an upward trajectory and the focus is on the downside as the bulls meet a significant Fibonacci retracement area at a confluence of resistance structure. The following illustrates where the next downside opportunity comes in: Daily chart The bulls are testing a critical daily resistance at this juncture. Failures here open risk to the downside. 4-hour chart There are still prospects of a last-minute test of 4-hour resistance… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
