The up-swing that started on April 2025, seems to have came to an end as price has already breached the rising trendline along with breaking below 111.156 which was an important support for the consolidation that price had made in past 4 months, we can consider this as a topping formation.

structurally the stance has definitely shifted form bullish - sideways to bearish direction, now in my opinion taking shorts on pullbacks would be the right thing to do. for the consolidation & topping formation to which price gave breakout below 111.156, we can expect target till 107.3 which accounts for the width of the consolidation.

In short term price may take some pull backs that would be an opportunity to initiate fresh shorts, after it restarts it's decline in the continuation direction.

Immediate support is at 108.782 which might act as first hurdle, below that I don't see any significant supports. Strong resistance is at 114.678 that is the consolidation high of entire topping formation.

It's a nice opportunity to enter into a positional short. This weakness is expected to persist, looking at the fundamentals. Japan is seriously reconsidering their monetary policy and looking at the currency depreciation which has made the country fall into the bottom less pit and it's spiralling downward, it make more sense then ever to adapt to hawkish strategy to which we had even saw some positive hints along those lines.

For Educational Purposes only, Not an Investment Advice, Always use strict Risk management measures.

Regards CrazyTrades247.