The bullish trend on the price chart of the USD/JPY currency pair is seen to stall when there are factors that change the direction of price movement.
With Yen trading still mixed, prices were driven by the US dollar as the focus last week turned to the US NFP jobs report at the end of the week.
At the beginning of the week, the excellent price displayed an increase up to the level of 143,500, but it turned out that the level became a resistance zone for the price of the week.
The strengthening of the US dollar initially failed to sustain as the market was cautious ahead of the NFP report on Friday.
After the report was published, the price dropped even lower to the level of 141,600 following the market reaction causing the US dollar currency to experience depreciation.
A bearish signal was observed when the price started hovering below the Moving Average 50 (MA50) barrier level on the 1-hour time frame on the USD/JPY chart.
If the price decline continues today, several levels will be observed with the expectation that the price will go to around 140,500 before continuing the decline to 139,300.
The level reached at the end of July around 138.00 will also be watched as a target before the price can extend the decline to the price support zone at 137.00.
On the other hand, if a price spike occurs, it is likely that investors will receive a signal for the bullish pattern to continue again after this.
The initial surge needs to break through the MA50 barrier and the 143.500-144.00 resistance zone that has been a barrier to last week's gains.
Next, after passing all the following obstacles, the increase can continue to the level of 145.00 or reach the height of 146.00.
