USDJPY 1H Big Push-Down is Coming !?!?
USDJPY 1H local trend might start pushing down alongside with the strong down-trend at higher timeframes, after the green 1H supply zone has been reached today.
For that to happen, we need a downward confirmation signal Break of Structure(BOS) to emerge first, which is at level 144.229. Two rough scenarios have been drawn on the chart, we need to be patient for the BOS in order to seek Short opportunities later on. This push can potentially go to the Daily low targets at 141.684 or 140.249 (seen clearly on Daily chart).
The "Caution Level" at roughly 145.645 indicates a potential trend reversal signal once it's broken, new USDJPY analysis will be made at the time.
Note
USDJPY has started ranging locally. If it still wants to push down, I would wait for a new BOS level to be broken.
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.