The 4-hour chart for USD/JPY shows that the pair is trading within a descending broadening wedge pattern. The pair failed at 148.30 and continued to move lower. Each rebound has also failed at the pattern’s resistance, reinforcing the downside trend.
The 142 level is currently supporting, preventing a deeper decline. However, repeated failed rebounds have formed bearish price action. A break below 142 would signal further downside toward 140, confirm strong bearish pressure, and extend the decline in USD/JPY.
