Current price: 132.45
Key point: 133.70
Our preferred direction: short positions below 133.70 levels, targeting 131.30 as a first target, then 127.00 as a second target.
Alternative scenario: stop loss and change direction by breaking 133.70, targeting 137.00.
Technical comment
The dollar yen pair succeeded in reaching its first target at the support level of 133.70 below the descending trend line from the top of last October, and it is expected to complete the decline to 131.30 levels, and if the pair succeeds in breaching it, it will head to 127.00 levels
