### USD/JPY Key Points
- Overriding bearish sentiment in USD/JPY.
- USD/JPY in clear higher time frame bearish trend and retesting previous support as possible resistance.
- USD/JPY intraday price action indicating possible resumption of bearish trend.
USD/JPY Technical Analysis
With global markets still worried about further economic slowdowns, there are certainly reasons for us to be bullish the Japanese Yen.
If you think that central banks, including the US Federal Reserve, are going to slow down hiking rates or not hike again at all because of fears around sentiment, it's easy to see have this bullish safe-haven Yen view.
So of course a bullish Yen means a bearish USD/JPY and if you take a look at the first chart above, you can see price is struggling to crack the clear level of previous support turned possible resistance. This is the second time that price has tested the pretty clear level.
Then zoom into an intraday chart such as the second 15 minute chart above and you can see that price has failed to print a higher high here too and it's looking like we could be in store for a resumption of the bearish trend.
If you can get in early up here, there's a definite opportunity to keep your stop loss tight and possibly go for some nice risk:reward gains.
Best of probabilities to you!
Economic Releases to Watch Today
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ALL - G20 Meetings
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JPY - BOJ Gov Kuroda Speaks
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