USD/JPY Correction Could Offer Shelling Opportunity

In my USD/JPY analysis last week, I mentioned a high probability of the pair breaking support and continuing its decline.

That scenario has played out, with USD/JPY dropping below the key 151 support zone and now trading around 149.50.

An upside correction may be next, potentially providing traders with an opportunity to enter short and ride the downtrend.

Conclusion:
Rallies around 150.50 should be seen as selling opportunities, and as previously stated, I expect a further drop to 146. 📉

Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.