Get started
U.S. Dollar / Japanese Yen

Consolidation Phase:Key Levels and Scenarios for Market Movement

By SroshMayi
Trend Analysis Summary

Market Consolidation and Key Levels:
The price recently reached the resistance line and corrected down to the support line at 158.800. Currently, it is expected to consolidate between 159.820 and 158.800 until a breakout occurs. Stability below the support zone (159.100 - 158.800) suggests a potential drop to 157.970.

  • Bullish Scenario:
    For the bullish trend to continue, the price must break above 159.820 and close a 4-hour candle above this level, aiming for a target of 161.700.

  • Bearish Scenario:
    As long as the price trades below 159.820, it may attempt to drop again to gather bullish momentum. Stability below 158.800 could lead to a decline toward 157.970.

  • Key Levels:
    - Pivot Line: 159.820
    - Resistance Levels: 160.500, 161.300, 161.850
    - Support Levels: 159.220, 158.800, 157.980

  • Summary:
    The market is in a consolidation phase between 159.820 and 158.800. A break above 159.820 signals a bullish continuation toward 161.700, while stability below 158.800 indicates a potential drop to 157.970.

    previous idea:
    USDJPY / Sustained Bullish Momentum with Key Support at 157.97
jpySupply and DemandSupport and ResistancetrendTrend AnalysisUSDUSDJPY
SroshMayi
my free signals channel telegram

t.me/Srosh_signals

~6 analyses per day. With a clear entry point
more than 1000 pip per week —— Accuracy +88%

SM World and Economy News 24/7
Urgent News ⚡️:

t.me/SM_News_24h
Also on:

Related publications

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.