USD/JPY (US Dollar/Japanese Yen), a potential bearish reversal scenario is indicated by the following key levels:
Resistance Levels:
The 1st resistance level at 149.74 is identified as "Multi-swing high resistance," suggesting a significant barrier where selling pressure may intensify, potentially leading to a reversal in the price trend.
The 2nd resistance level at 150.39 is described as "Pullback resistance," indicating another level where sellers might be active, reinforcing the bearish sentiment.
Support Levels:
The 1st support level at 148.79 is recognized as "Pullback support," implying a level where buying interest could emerge, potentially providing some support to the price decline.
The 2nd support level at 147.81 is noted as "An Overlap support," suggesting another area where buyers might enter the market, potentially limiting further downward movement.