Technical idea on 4h time frame on USDJPY . Testing of trendline
USDJPY 4H Analysis – February 10, 2025
📉 Breakdown Below Trendline – Bearish Outlook
The chart shows that USDJPY has broken below a key ascending trendline, signaling a potential shift in momentum from bullish to bearish.
Price retested the broken trendline and horizontal resistance (152.147 - 153.000) before rejecting lower, confirming the breakdown.
📊 Potential Target: 146.000 - 145.500 Zone
The next key support level is the purple demand zone around 146.000 - 145.500, which aligns with previous price action.
The measured move suggests a 4.52% decline (-6.897 points) from the rejection zone.
📌 Key Levels to Watch:
Resistance: 152.147 - 153.000 (previous support turned resistance).
Support: 146.000 - 145.500 (major demand zone).
⚠️ Bearish Confirmation & Risk Consideration
A daily close below 152.000 could further confirm the downward move.
However, if the price reclaims 153.000, the bearish scenario would be invalidated.
🔍 Conclusion: Current price action suggests a bearish move toward 146.000, but traders should watch for further confirmation before entering short positions. 🚀
📉 Breakdown Below Trendline – Bearish Outlook
The chart shows that USDJPY has broken below a key ascending trendline, signaling a potential shift in momentum from bullish to bearish.
Price retested the broken trendline and horizontal resistance (152.147 - 153.000) before rejecting lower, confirming the breakdown.
📊 Potential Target: 146.000 - 145.500 Zone
The next key support level is the purple demand zone around 146.000 - 145.500, which aligns with previous price action.
The measured move suggests a 4.52% decline (-6.897 points) from the rejection zone.
📌 Key Levels to Watch:
Resistance: 152.147 - 153.000 (previous support turned resistance).
Support: 146.000 - 145.500 (major demand zone).
⚠️ Bearish Confirmation & Risk Consideration
A daily close below 152.000 could further confirm the downward move.
However, if the price reclaims 153.000, the bearish scenario would be invalidated.
🔍 Conclusion: Current price action suggests a bearish move toward 146.000, but traders should watch for further confirmation before entering short positions. 🚀
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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.