Tokyo Session USD/JPY Analysis: Ninja is Going Down

Dear traders,

The USD/JPY, popular “Ninja” is on its way towards 112.00 zone and below. The pair has started a bearish movement and I expect a further bearish continuation.

H4 Bollinger band shows a bearish zigzag, while recent highs touch a descending trend line that is positioned below important camarilla pivots. 112.70-80 is the POC zone and rejection should happen within the zone. As long as 113.30 stays strong, the USD/JPY will continue dropping towards 112.44, 112.20 and 111.95. The ATR is not high, only 56 pips, indicating a slower intraday movement so it might take some time for the target to be reached. Ninja is going down.