Last week, February 5-9, 2018, looking at the 1day chart and the 1week chart, we see the usdjpy further continue the downtrend breaking the last bottom/ support at 108.27 Friday, February 9. Usdjpy has reached the lowest at 108.03, Friday, and with the opening of the market for the week, usdjpy has furthermore continue the downtrend and has now reached the lowest at 107.39. Will now usdjpy still continue going down still or will it now make bottom and reverse up.
In the 1day chart, we now see stoch(5,3,3) continue the downtrend with the top made recently, February 2, while the macd also show downtrend signal. At this point, with the current strong momentum, it is the view that usdjpy will further continue the downtrend. Also, at this point we see that the long-term bottom/support at 107.31 has already been broke, and we may now be looking at a bigger triangle pattern which is the long-term chart 1month.