USD/JPY Technical Analysis: Confirms a near-term bearish breakdown

The pair’s intraday attempted recovery, beyond the 113.00 handle failed ahead of 100-hour SMA, with bears taking back control during the early North-American session.

A decisive breakthrough overnight/Asian session swing lows support, around the 112.60-55 region, was seen as a key trigger behind the latest leg of a sudden fall in the last hour.

The downward momentum further confirms a bearish break below a symmetrical triangle on the daily chart and favours a follow-through drop to test the 100-day SMA support.

With technical indicators just starting to gain negative momentum, the pair seems vulnerable to extend the near-term downward trajectory, possibly towards challenging Oct. monthly swing low.

USD/JPY
Overview:
Today Last Price: 112.44
Today Daily change: -78 pips
Today Daily change %: -0.689%
Today Daily Open: 113.22./fxstreet.com

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