USD/JPY 4-hour chart is showing a clear downtrend, with price forming lower highs and lower lows. A recent retracement has tested a previous support-turned-resistance zone (148.240 - 148.262), and rejection from this level indicates the potential for further downside movement.
Bearish Confirmation & Entry:
The price is currently testing the 148.240 - 148.262 resistance zone.
A strong rejection from this level would confirm a sell setup.
The trade setup suggests a move towards the next key support zones if momentum continues downward.
Target Levels:
First Take Profit (TP1): 146.543 (Recent low & strong support level)
Second Take Profit (TP2): 145.807 (Key demand zone)
Final Take Profit (TP3): 142.960 (Major psychological support)
Risk Management:
Stop-loss placement: Above the 148.262 resistance zone, ensuring protection against unexpected bullish reversals.
The risk-to-reward ratio is favorable, with a structured trade setup providing a high-probability short opportunity.
Bearish Confirmation & Entry:
The price is currently testing the 148.240 - 148.262 resistance zone.
A strong rejection from this level would confirm a sell setup.
The trade setup suggests a move towards the next key support zones if momentum continues downward.
Target Levels:
First Take Profit (TP1): 146.543 (Recent low & strong support level)
Second Take Profit (TP2): 145.807 (Key demand zone)
Final Take Profit (TP3): 142.960 (Major psychological support)
Risk Management:
Stop-loss placement: Above the 148.262 resistance zone, ensuring protection against unexpected bullish reversals.
The risk-to-reward ratio is favorable, with a structured trade setup providing a high-probability short opportunity.
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📈Forex Telegram Alerts
🥇95% Accurate Signals
♻️1-2 Daily Signals
✔️Free Daily Profitable Signals
⤵️‼️Join us on Telegram‼️⤵️
📱Telegram:➡️ t.me/ultreos_forex
Website:- ultreosforex.com/
🥇95% Accurate Signals
♻️1-2 Daily Signals
✔️Free Daily Profitable Signals
⤵️‼️Join us on Telegram‼️⤵️
📱Telegram:➡️ t.me/ultreos_forex
Website:- ultreosforex.com/
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.