USDJPY Overview
Looking at the USD/JPY chart, we’re currently sitting around a key resistance level marked by a high timeframe Order Block (OB). Price has already tapped into this zone, and from what I can see, this could signal a potential pullback. This area has acted as strong resistance before, and I think we might see a loss of momentum here, leading to a drop. My outlook is that if price respects this OB and fails to break higher, we could start seeing a move down towards the 147.000 region, which is the next significant support. If this scenario plays out, we might have a good opportunity to look for shorts on the way down.
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.