USDJPY 15 Dec 2023 on the weekly timeframe. This pair experienced bearishness after a long period of bullishness in the previous sessions. Bounced down after touching the resistance line at the highest price position at 151.520. After that, the pair continued to weaken until it now occupies a price position of 141.863. Referring to the stochastic indicator, it appears that it has been oversold which allows a trend reversal to occur. If this pair manages to reverse the trend then go-long can be an option for traders. However, if there are indications that this pair will continue to bearish, then go-short remains an option. Keep an eye on market movements and take into account all possibilities before making trading decisions.
