USD/JPY U.S. mortgage rates fell to 5.10 from 5.25 last week. But compared with 3.1% at the end of last year, 5.1% is still relatively high. Based on the release of this data, the market is not particularly optimistic about the dollar.
The trend line formed by USD/JPY in the D1 chart has been successfully broken, and the trend has turned from bullish to bearish. The short-selling volume of the MACD indicator is gradually increasing, and the signal line is breaking below the 0-axis. Fibonacci prices below 23.6 strongly push prices towards the 125.259 area.
The formation of a death cross by the double-line MA in the H1 chart will continue to be bearish. At present, various indicators show that the trend has a lot of room for downside.
All transactions involve risks, the above analysis is for reference only. When placing an order, be sure to set the lot size and remember to set the stop loss.
