USDJPY: acceleration at lows
Daily. USD/JPY breached down support of 106.00 and confidently headed to 103.00. Last week the pair formed new low in the 103.50 area.
The bears won't probably stop here as the daily Ichimoku indicator is in their favor. Declining Cloud and the 'dead cross' mean that sellers may pull the pair down to 102.50, despite the fact that it's oversold both at the daily and weekly chart.
Chart. Daily USD/JPY
H4. On H4 the ntrend is still bearish. At the beginning of the week the pair was moving confidently down, consolidating between Tenkan and Kijun. On Thursday the support line got broken, and the pair fell to new lows.
The Ichimoku Cloud is widening to the downside and the dead cross formed by Tenkan and Kijun will make the negative sentiment persist.
Chart. H4 USD/JPY