USDJPY Trend Analysis: Market Consolidation and Key Levels
Updated
Trend Analysis Summary
Market Consolidation and Key Levels:
The price has reversed and stabilized in a bearish area as long as it trades below the supply zone, which is between 158.800 and 159.100, targeting 157.975 and 157.380.
Bullish Scenario:
For a bullish trend, the price needs to stabilize above 158.800, potentially reaching 159.810. Further stability above this level would indicate an uptrend.
Bearish Scenario:
The bearish area is confirmed as long as the price trades below the supply zone, targeting 157.975. There is also the possibility of a retest up to 158.800 before resuming the bearish trend.
Key Levels:
- Pivot Line: 158.800
- Resistance Levels: 159.100, 160.520, 161.670
- Support Levels: 158.000, 157.385, 156.580
Movement Range:
The movement range will be between 158.810 and 157.385.
Previous idea:
Market Consolidation and Key Levels:
The price has reversed and stabilized in a bearish area as long as it trades below the supply zone, which is between 158.800 and 159.100, targeting 157.975 and 157.380.
Bullish Scenario:
For a bullish trend, the price needs to stabilize above 158.800, potentially reaching 159.810. Further stability above this level would indicate an uptrend.
Bearish Scenario:
The bearish area is confirmed as long as the price trades below the supply zone, targeting 157.975. There is also the possibility of a retest up to 158.800 before resuming the bearish trend.
Key Levels:
- Pivot Line: 158.800
- Resistance Levels: 159.100, 160.520, 161.670
- Support Levels: 158.000, 157.385, 156.580
Movement Range:
The movement range will be between 158.810 and 157.385.
Previous idea:
Note
UPDATEThe price dropped and reached our targets perfectley about 200 pip, and still has a bearish as long as 156.58
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