The USD/JPY pair is showing signs of a potential medium-term corrective decline. Technical analysis suggests that the pair may be starting a downward trend.
After reaching a peak, the USD/JPY pair has shown a series of lower highs and lower lows, indicating a possible reversal in the trend. This could be the start of a medium-term corrective decline for the pair.
Traders should keep a close eye on key support levels to determine the strength of the downward movement. If these levels are broken, it could signal a further decline in the USD/JPY pair.
Overall, the technical indicators are pointing towards a potential correction in the USD/JPY pair. Traders should be cautious and vigilant in monitoring the price action to make informed trading decisions.