USDJPY - Facing down trend
Updated
Overall Trend: Uptrend
Bearish Outlook: If the price stabilizes below 145.572, confirmed by the close of a 4-hour candle, it could trigger a decline toward 144.197. Continued trading below this level would likely target the next support level at 142.607.
Bullish Outlook: For the uptrend to be confirmed, the price must stabilize above 146.438. This would establish an upward trajectory with the potential to reach the resistance level at 148.663. Should the price maintain its position above this level, it could advance further to 149.921.
Key Levels to Watch: 146.438
Bearish Outlook: If the price stabilizes below 145.572, confirmed by the close of a 4-hour candle, it could trigger a decline toward 144.197. Continued trading below this level would likely target the next support level at 142.607.
Bullish Outlook: For the uptrend to be confirmed, the price must stabilize above 146.438. This would establish an upward trajectory with the potential to reach the resistance level at 148.663. Should the price maintain its position above this level, it could advance further to 149.921.
Key Levels to Watch: 146.438
Trade active
The price is trading in the same zone
Bearish: A close below 145.572 could drop to 144.197, then 142.607.
Bullish: A close above 146.438 targets 148.663, then 149.921.
Trade active
The price is still moving between a resistance level of 146.43 and a support level of 144.19 until it breaks one side.Trade closed: target reached
As mentioned, as long as the price remains below 146.43, it will likely attempt to reach the support level at 144.19. Currently, the price is trading below this level, and all indications suggest a move toward the next support at 142.60. Beware, the price requires strong positive momentum to stabilize above 144.19; if it breaks above this level again, it will re-enter the consolidation zone.
Trade active
Today, the price may experience a bullish rally, potentially reaching levels of 146.43 or 148.66. However, after hitting these resistance levels, it could begin to decline, eventually dropping below the key support level of 144.19. This movement suggests a possible reversal after the rally, and traders should be cautious of a shift in momentum as the price approaches and breaches these critical levels.
Trade closed: target reached
As mentioned, the price reached 146.43.
If the price breaks 146.43, it may reach 148.66 before declining.
If it fails to break 146.43, it could drop to 144.19.
For the bullish trade, a 4-hour candle must close above 149.43.
about 4 Analysis per day.
With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
With Clear entry point and target line with stopout zone
~900 pips per week —— Accuracy more than 88%
with best learning
Be Stronger With us
THANKS for your support
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.