The currency pair is fluctuating below 131.24.

The USDJPY is fluctuating below 131.24 and the short-term trend of the US dollar against the Japanese yen is suffering.

With the breakout of 131.24, the market will reach 261.8% Fibonacci at 133.26.

However, a downward divergence is seen in the four-hour MACD indicator. If this divergence works, it confirms the formation of a short-term price peak at 126.91 and the short-term USDJPY trend will decline.

* Technical H4 analysis of USDJPY

* Technical daily analysis of USDJPY