#USDJPY ANALYSIS 24TH FEBRUARY
In the current market landscape, the USDJPY currency pair is demonstrating clear indications of a sustained downtrend. This movement is characterized by a series of lower highs and lower lows, suggesting that sellers are in control.
The nearest resistance level to watch is situated at 150.71 (Fair Value Gap). Should the price approach this area and experience a rejection, it is highly likely that we will see a continuation of the downward momentum, targeting the next significant support level at 147.80.
Traders should remain vigilant during this period, as the market can be quite volatile around these critical levels. It is essential to keep an eye on economic indicators and geopolitical events that may influence market sentiment.
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