USDJPY: Bearish Trend & Continuation

3 Jan 2021

USDJPY is trading in a strong bearish trend on weekly.
The price keeps following a major falling trend line and we see a sequence of lower lows and lowers highs since January 2017th.

This year we keep being bearish biased.
It looks like after a strong rejection from the upper boundary of a major support cluster in March, bears will try to test it again this year.

Remember that the market looks relatively oversold at the moment.
For safe entry, I would look for a pullback first and short trade would be strictly initiated on a lower timeframe after a confirmation.

Are you also bearish on USDJPY?

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