USDJPY is facing bearish pressure, potential drop!

Price is testing the descending trendline resistance and could reverse from our first resistance, in line with our horizontal swing high resistance, 78.6% Fibonacci retracement and 38.2% Fibonacci extension, towards our first support, in line with our 78.6% Fibonacci extension and horizontal swing low support. Price continues to trend below the Ichimoku cloud as well, showing signs of bearish pressure in line with our bearish bias.

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