The USDJPY D1 chart shows that the price has now hit the lower support level. Although the current trend has basically turned to the bears, there is still one thing that needs to be confirmed is whether the price will form a false breakout. Therefore, the current price should have a high probability of a pullback. If the pullback does not break through the upper resistance level, the price will continue to fall.
Looking back at the H1 chart, it can be found that the candle chart has formed a morning star pattern, and the price has also formed support below, and a callback is inevitable. But with the current strong downtrend, we won’t catch many pullback points, which will only further increase our loss rate.
Deploy short positions at high levels, and high-risk investors can choose to go long.
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.