USDJPY is showing signs of strength near a key demand zone (142.800 – 143.100), holding above it for several sessions. Price is currently flirting with the 143.116 resistance. A clean break and retest of this level could spark bullish momentum.
Key Levels to Watch:
Support/Demand Zone: 142.800 – 143.100 (highlighted in orange)
Resistance 1: 143.116 (current key level to break)
Resistance 2: 146.331
Major Supply Zone: 149.000 – 150.000 (highlighted in blue, heavy selling area)
Bullish Scenario:
Break and retest of 143.116 could open the door to 146.331, then potentially 149.501.
Arrows indicate the next bullish targets if momentum picks up.
Bearish Scenario:
Failure to hold the demand zone may result in a retest of 142.000 or lower.
Watch for bearish engulfing candles around 143.116 if bulls get rejected.
Technical Insight: This chart includes the LuxAlgo Supply and Demand indicator, clearly marking areas of institutional interest. Price is currently resting in a high-interest demand zone, and we may see a breakout if buyers gain control.
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Trade Idea: Wait for confirmation above 143.116 with strong bullish volume. If confirmed, consider long positions targeting 146.3 and 149.5. Always manage risk!
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What do you think? Will the bulls break out or will bears take over again? Drop your thoughts below!
#USDJPY #Forex #SupplyAndDemand #LuxAlgo #PriceAction #BreakoutStrategy #ForexTrading #TradingView #TechnicalAnalysis #JPY #USD
Key Levels to Watch:
Support/Demand Zone: 142.800 – 143.100 (highlighted in orange)
Resistance 1: 143.116 (current key level to break)
Resistance 2: 146.331
Major Supply Zone: 149.000 – 150.000 (highlighted in blue, heavy selling area)
Bullish Scenario:
Break and retest of 143.116 could open the door to 146.331, then potentially 149.501.
Arrows indicate the next bullish targets if momentum picks up.
Bearish Scenario:
Failure to hold the demand zone may result in a retest of 142.000 or lower.
Watch for bearish engulfing candles around 143.116 if bulls get rejected.
Technical Insight: This chart includes the LuxAlgo Supply and Demand indicator, clearly marking areas of institutional interest. Price is currently resting in a high-interest demand zone, and we may see a breakout if buyers gain control.
---
Trade Idea: Wait for confirmation above 143.116 with strong bullish volume. If confirmed, consider long positions targeting 146.3 and 149.5. Always manage risk!
---
What do you think? Will the bulls break out or will bears take over again? Drop your thoughts below!
#USDJPY #Forex #SupplyAndDemand #LuxAlgo #PriceAction #BreakoutStrategy #ForexTrading #TradingView #TechnicalAnalysis #JPY #USD
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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.