USDJPY Day | Potential bearish reversal?

The USD/JPY chart displays a bullish trend, with potential for a bearish reaction off the 1st resistance at 149.13, dropping to the 1st support at 148.47. The 1st resistance aligns with the 161.80% Fibonacci projection, while the 2nd resistance is at 150.19. The 1st support coincides with the 38.20% Fibonacci retracement, and the 2nd support at 147.95 aligns with the 61.80% retracement.

Analysis are provided by InstaForex

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