Price trend changes are witnessed by investors on the USD / JPY currency pair when the bullish pattern fails to retain on early trading January 2022.
Investors remain monitoring current market sentiments that continue to influence the movement of both Safe-Haven US dollar and yen.
If previously observed, the price has moved strongly to reach a 5-year high of late 2021 trading until the first week of trade opening in 2022.
However, prices began to show a more bearish pattern after the height level was reached at 116,300.
At first analysts saw a correction of pricing last week, but the lower drop was signaled for the bearish trend to begin.
The price moves below the Moving Average 50 (MA50) barrier level at a time frame of 1 hour since the end of last week and connected to this week.
This week witnessed the price plummeting more severe following US dollar depreciation factors in the market and ended the price attempt to maintain a bullish trend before.
On Thursday's trading yesterday, prices dropped up to 114.00 levels, and continued on today's trading (Friday), the decline remains extended to around 113,650 as far as the European session.
The price drop will be expected to reach the 113,300 support level to record 4 weekends.
