USD/JPY Technical Analysis – Daily Timeframe
Current Situation:
The USD/JPY pair recently tested the 141.38 level (a key price-time zone) with a false breakout on April 21, followed by a strong rebound.
This bounce held the price above the support zone and triggered a bullish move, pushing the price above the 144.81–144.87 resistance area and closing the week with a potential continuation candle to the upside.
Additional Insight:
This bullish phase may represent a retracement of the bearish impulse that originated from the 149.84–149.63 area, which is marked with the green arrow on the chart.
The broader trend remains bearish, so this could be a technical pullback before the downtrend potentially resumes.
Key Levels to Watch:
Support: 144.81 / 144.87 → 142.20 → 141.38
Resistance / Target Zone: 149.63–149.84 (crucial area for reassessment)
Lower Bearish Targets (if support breaks): 136.81 and 132.80
Trading Conclusion:
In this context, a continued move to the upside toward the 149.63–149.84 area is expected, but it will be crucial to closely observe price behavior at those levels.
Conversely, if the 141.38 support is breached, we may see a resumption of the broader downtrend with significantly lower targets.
⚠️ Note: The overall market structure remains bearish, meaning this current rally is likely a corrective phase. Caution and confirmation are key before taking action.
Current Situation:
The USD/JPY pair recently tested the 141.38 level (a key price-time zone) with a false breakout on April 21, followed by a strong rebound.
This bounce held the price above the support zone and triggered a bullish move, pushing the price above the 144.81–144.87 resistance area and closing the week with a potential continuation candle to the upside.
Additional Insight:
This bullish phase may represent a retracement of the bearish impulse that originated from the 149.84–149.63 area, which is marked with the green arrow on the chart.
The broader trend remains bearish, so this could be a technical pullback before the downtrend potentially resumes.
Key Levels to Watch:
Support: 144.81 / 144.87 → 142.20 → 141.38
Resistance / Target Zone: 149.63–149.84 (crucial area for reassessment)
Lower Bearish Targets (if support breaks): 136.81 and 132.80
Trading Conclusion:
In this context, a continued move to the upside toward the 149.63–149.84 area is expected, but it will be crucial to closely observe price behavior at those levels.
Conversely, if the 141.38 support is breached, we may see a resumption of the broader downtrend with significantly lower targets.
⚠️ Note: The overall market structure remains bearish, meaning this current rally is likely a corrective phase. Caution and confirmation are key before taking action.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.