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02.12.202114:12 Forex Analysis & Reviews: USD/CAD analysis for December 02, 2021 - Potential for the bigger drop and downside continuation

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Technical analysis:

USD/JPY has been trading sideways at the price of 112,93 and I see potential for the downside continuation and bigger drop.

Trading recommendation:

Due to strong downside movement in the background and low prices on US Stock market, I see potential for the further drop on USD/JPY.

Watch for selling opportunities on with the potential downside objective at 112,10.

I found on 4H time-frame, contraction, which is another sign for potential downside continuation.

Resistance is set at the price of 113,95

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