USD/JPY is currently in a strong downtrend, indicating a bearish market sentiment. The pair continues to follow the descending trendline, respecting lower highs and lower lows, which confirms the ongoing downward momentum.
Bearish Scenario: Trend Continuation
First Key Support – 148.100
This level serves as a major support zone where price could find temporary consolidation or a minor pullback.
If price breaks below 148.100 with strong bearish pressure, further downside is expected.
Next Major Support – 142.000
A clean break and close below 148.100 could accelerate selling pressure.
The next critical level to watch is 142.000, a strong historical support zone and a psychological level.
If this level is reached, the bearish trend will likely extend further.
Bullish Scenario: Trendline Breakout
If USD/JPY breaks above the descending trendline, it may signal a potential trend reversal or retracement.
The key resistance to watch for a breakout is 151.300, which acts as a strong support-turned-resistance level.
Bearish Scenario: Trend Continuation
First Key Support – 148.100
This level serves as a major support zone where price could find temporary consolidation or a minor pullback.
If price breaks below 148.100 with strong bearish pressure, further downside is expected.
Next Major Support – 142.000
A clean break and close below 148.100 could accelerate selling pressure.
The next critical level to watch is 142.000, a strong historical support zone and a psychological level.
If this level is reached, the bearish trend will likely extend further.
Bullish Scenario: Trendline Breakout
If USD/JPY breaks above the descending trendline, it may signal a potential trend reversal or retracement.
The key resistance to watch for a breakout is 151.300, which acts as a strong support-turned-resistance level.
Trade closed manually
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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.
Join My Telegram Channel for Signals and Technical Charts
t.me/Pipsviewtrading
Contact: t.me/Pipsviewadmin
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Contact: t.me/Pipsviewadmin
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.