Technical Analysis of the Japanese Yen Index
The Japanese Yen Index is moving in a clear downtrend on both the daily and 4-hour timeframes. Currently, prices are trading around the 729.0 level after rejecting lower from the DFVG zone. The bearish momentum is expected to continue throughout the day. Breaking below previous lows further confirms sellers’ strength, with the potential for increased downward pressure in the short term. Overall, market sentiment remains bearish, and price action suggests further weakness in the coming sessions.
Key Economic News
There are no significant economic releases related to the Japanese Yen today; thus, price action is expected to remain smooth throughout the session.
Liquidity Levels
Prices are expected to decline, targeting 724.0 first, followed by 718.0.
Invalidation Scenario
The bearish outlook will be invalidated if prices revisit the 737.0 level.
