USDJPY USD/JPY Technical Analysis (Daily Chart)
Trend Structure:
The chart shows a trend shift from bullish to bearish.
Higher Highs (HH) and Higher Lows (HL) previously indicated an uptrend.
However, recent Lower Highs (LH) and Lower Lows (LL) confirm a bearish structure.
Support & Resistance Levels:
Immediate Support (Target Price 1): 151.316 – This level is being tested.
Major Support (Target Price 2): 149.592 – 150.000 – If 151.316 breaks, the price may drop further towards this zone.
Moving Averages:
Price has broken below both moving averages.
Trendline Break:
The rising trendline has been broken, confirming a bearish breakout.
Trade Outlook: 🔴 Bearish Bias – No Buy Signal
If 151.316 support breaks, expect a move towards 149.592 – 150.000.
Strong resistance above 153.000, meaning any bounce could be a shorting opportunity.
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Unveiling illusions, revealing wealth
Unveiling illusions, revealing wealth
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.
no pain, no gain
Unveiling illusions, revealing wealth
Unveiling illusions, revealing wealth
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.