USD/JPY is currently consolidating within a well-defined symmetrical triangle, respecting both the ascending and descending trendlines with clean touches. This structure typically precedes a volatile breakout, and the technical confluence here favors a bearish resolution.
🔍 Technical Breakdown:
Price failed to hold above the 0.5 Fib level of the recent swing high at 145.377, getting rejected by both the 200 EMA and the triangle resistance zone.
Currently testing the 0.382 retracement (144.607) — a break here opens the door for a drop to the 0.236 level (143.653) and potentially deeper into previous demand.
Volume compression and EMA clustering further support an imminent breakout move.
📐 Bearish Confluences:
Rising wedge/symmetrical triangle pattern showing exhaustion.
Strong rejection at the equilibrium of the range.
EMAs acting as dynamic resistance.
Major fib cluster from previous bearish leg aligning with triangle apex.
🎯 Targets:
TP1: 143.653 (0.236 Fib)
TP2: 142.111 (local low)
TP3: 140.347 (-0.27 Fib extension, full measured move of triangle)
❌ Invalidation:
Clean break above 145.526 (mid-structure + fib zone) would neutralize the setup.
💬 Market Context: Watch closely for a breakout confirmation. Smart money may sweep short-term liquidity before a decisive drop. Stay nimble, and remember — structure always tells the story.
🔍 Technical Breakdown:
Price failed to hold above the 0.5 Fib level of the recent swing high at 145.377, getting rejected by both the 200 EMA and the triangle resistance zone.
Currently testing the 0.382 retracement (144.607) — a break here opens the door for a drop to the 0.236 level (143.653) and potentially deeper into previous demand.
Volume compression and EMA clustering further support an imminent breakout move.
📐 Bearish Confluences:
Rising wedge/symmetrical triangle pattern showing exhaustion.
Strong rejection at the equilibrium of the range.
EMAs acting as dynamic resistance.
Major fib cluster from previous bearish leg aligning with triangle apex.
🎯 Targets:
TP1: 143.653 (0.236 Fib)
TP2: 142.111 (local low)
TP3: 140.347 (-0.27 Fib extension, full measured move of triangle)
❌ Invalidation:
Clean break above 145.526 (mid-structure + fib zone) would neutralize the setup.
💬 Market Context: Watch closely for a breakout confirmation. Smart money may sweep short-term liquidity before a decisive drop. Stay nimble, and remember — structure always tells the story.
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.