USDJPY facing bearish pressure | 5 Apr 2021

5 Nis 2021

Prices are facing bearish pressure from the descending trend line as well as horizontal swing high resistance which is in line with 100% fibonacci extension and 78.6% fibonacci retracement . Prices are likely to push down towards horizontal swing low support which is in lien with 100% fibonacci extension and 127.2% fibonacci extension . If prices break through descending trend line resistance and 1st resistance, price is likely to face resistance from 2nd resistance which is a horizontal swing high resistance which coincides with 78.6% fibonacci retracement . EMA is above prices, showing a bearish pressure for prices.