USDJPY is reacting from a major confluence zone after breaking out of a descending wedge.
Price has returned to retest the underside of the trendline while tapping into an FVG and historical resistance.
This zone shows early signs of rejection on the 4H, with long wicks and slowing bullish momentum.
I’m watching for confirmation of bearish intent — if structure breaks on lower timeframes, it could signal the start of a larger correction.
Key structure zones and imbalance levels are in play. I’ll be monitoring for clean entries on the next pullback or confirmation candle.
Price has returned to retest the underside of the trendline while tapping into an FVG and historical resistance.
This zone shows early signs of rejection on the 4H, with long wicks and slowing bullish momentum.
I’m watching for confirmation of bearish intent — if structure breaks on lower timeframes, it could signal the start of a larger correction.
Key structure zones and imbalance levels are in play. I’ll be monitoring for clean entries on the next pullback or confirmation candle.
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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.