"USD/JPY Price Action: Will Buyers Defend This Support Level?"
USD/JPY Technical Analysis
Key Levels and Market Outlook
Buying Zone Identified
USD/JPY is currently testing a key buying area around 148.219 – 148.886, marked by strong historical support. This level has previously acted as a demand zone, suggesting potential for a bullish reversal.
Potential Upside Target
If buyers step in at the support zone, the first target area is around 150.681, followed by a higher resistance at 152.185. A strong breakout above 149.903 could confirm bullish momentum.
Downside Risk
Failure to hold the 148.219 support level may lead to a deeper correction toward 146.708.
Traders should watch price action closely for confirmation signals before entering positions.
Conclusion
The market is at a decision point. A bounce from the buying zone could trigger a rally toward resistance, while a breakdown could expose further downside. Monitor price action and volume for confirmation.
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Key Levels and Market Outlook
Buying Zone Identified
USD/JPY is currently testing a key buying area around 148.219 – 148.886, marked by strong historical support. This level has previously acted as a demand zone, suggesting potential for a bullish reversal.
Potential Upside Target
If buyers step in at the support zone, the first target area is around 150.681, followed by a higher resistance at 152.185. A strong breakout above 149.903 could confirm bullish momentum.
Downside Risk
Failure to hold the 148.219 support level may lead to a deeper correction toward 146.708.
Traders should watch price action closely for confirmation signals before entering positions.
Conclusion
The market is at a decision point. A bounce from the buying zone could trigger a rally toward resistance, while a breakdown could expose further downside. Monitor price action and volume for confirmation.
If you enjoy, press the like button.
Trade active
Note
Note
Trade running 60 pips+ ...Note
120 pips achieved .Note
Trade closed: target reached
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💸FREE FOREX Signals in Telegram : t.me/FxInsightsHub0
🔹Join Our Telegram Channel, Pure Price Action Based Signals With Chart Analysis.
t.me/FxInsightsHub0
🚀FREE CRYPTO Signals In Telegram: t.me/FxInsightsHub0
🔹Join Our Telegram Channel, Pure Price Action Based Signals With Chart Analysis.
t.me/FxInsightsHub0
🚀FREE CRYPTO Signals In Telegram: t.me/FxInsightsHub0
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.