
Technical Analysis of the Japanese Yen Index
The Japanese Yen Index is moving in a downward trend on both the weekly and daily timeframes. Prices are consolidating below the WFVG area after multiple rejections from this zone. Currently, prices are trading around the 732 level. A significant sell zone has formed near the 734 level, and bearish price action is expected from this area to continue the decline in the yen index.
Key Economic News
There are no major news releases for the Japanese yen today, so market activity is expected to remain relatively calm.
Liquidity Levels
Prices are expected to decline further, targeting the 728.0 level, then 724.0, followed by 718.
Invalidation Scenario
The bearish outlook will be invalidated if prices rise and close above the 748.0 level.