Bearish Exchange Trend, USD/JPY Is Plunging!

<p>&nbsp;The price chart of the USD/JPY currency pair has started to show a trend change as it resumes trading this week.</p><p><br /></p><p>In the past week, the price movement was flat throughout the week, but investors have started to prepare for the downside with the price starting to circulate below the Moving Average 50 (MA50) barrier level on the 1-hour time frame on the USD/JPY chart which gives an early warning for a change. trends.</p><p><br /></p><p>If observed, the pattern of price increases has continued since last May, leveling off for a while at the beginning of June before continuing to increase until the end of June.</p><p><br /></p><p>The change was evident at the end of last week which was triggered by a drastic decline in prices as the US dollar weakened significantly following the dismal US NFP jobs data report.</p><p><br /></p><p>The price plunged below the support level of 143.500 until reaching the level of 142.100 at the close of the last session last week.</p><p><br /></p><p>Resuming trading at the opening of the early week yesterday, the price rose only to the level of 143.00 and failed to touch the MA50 barrier before continuing its decline to lower levels in the New York session yesterday.</p><p><br /></p><p>After reaching around 141.300, the price continued to decline in the Asian session this morning (Tuesday) until it briefly rested at 140.600 at the beginning of the opening of the European session.</p><p><br /></p><p><br /></p><p>A lower decline is seen to be heading towards the 139,300-139,000 zone which was the price support zone when the price was flat for a while in early June trading.</p><p><br /></p><p>A move lower would expect a target at 137,000 to target and would mark a recent 7-week low for the price.</p><p><br /></p><p>However, if there is an increase again, several concentration levels are seen to be tested among them around 142,000 before the barrier at 143,500 will be reached.</p><p><br /></p><p>The continued increase will return to the resistance zone of last week which is around 145.00.</p>