USDJPY – downward movement remains a priority

08.03.2024

USD/JPY four-hour chart. The currency pair, as part of the downward wave development, found support at the weekly supertrend line. But we see that the pressure on this level is increasing. Against this background, we consider the scenario with further decline of quotes towards the main support/resistance level (4/8) as a priority. The line of the four-hour supertrend should be considered as intraday resistance.

Recommendations: Sell 148.70 TP 146.90