USD/JPY Price Analysis: Set to extend losses as bears take control

Bearish harami candle pattern emerges at the USD/JPY daily chart.
The pair will resume its downtrend below 144.97.
Buyers would gather momentum if they reclaim the Senkou Span A at around 145.86.

Christian Borjon Valencia FXStreet

On Tuesday, the USD/JPY registered losses of 0.48% as a bearish harami candlestick chart pattern formed, suggesting the major is headed to extend its losses. At the time of writing, as the Asian session begins, the pair is trading at 145.43, virtually unchanged.

The USD/JPY is neutral to downward based after diving below key support levels, like the Ichimoku Cloud. In addition, the Tenkan and Kijun-Sen levels turned bearish, with the latter sitting above of the former, which is the first support level at around 144.97. if the pair heads toward the latter and breaks that level, the next demand area would be the December 8 low of 142.49, followed by the December 7 at 141.60.

On the upside, the USD/JPY must reclaim the Senkou Span A at 145.86, ahead of the confluence of the Kijun-Sen and the Senkou Span B at 146.75.

USD/JPY Price Analysis – Daily Chart

USD/JPY Technical Levels

USD/JPY

Overview
Today last price	145.46
Today Daily Change	-0.75
Today Daily Change %	-0.51
Today daily open	146.21

Trends
Daily SMA20	148.14
Daily SMA50	149.22
Daily SMA100	147.53
Daily SMA200	142.39

Levels
Previous Daily High	146.59
Previous Daily Low	144.82
Previous Weekly High	147.5
Previous Weekly Low	141.64
Previous Monthly High	151.91
Previous Monthly Low	146.67
Daily Fibonacci 38.2%	145.91
Daily Fibonacci 61.8%	145.49
Daily Pivot Point S1	145.15
Daily Pivot Point S2	144.1
Daily Pivot Point S3	143.38
Daily Pivot Point R1	146.93
Daily Pivot Point R2	147.65
Daily Pivot Point R3	148.7

Author

Christian Borjon Valencia

FXStreet

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

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