After several days of consistent bearish momentum, price action on USDJPY has finally tapped into a well-defined demand zone just below 144.40 – an area previously tested with strong bullish reaction.
I’m now anticipating a potential **Change of Character (CHOCH)** as price forms a temporary floor. The rejection wick near 144.10 gives a hint of buyer interest, with confluence from a Fair Value Gap (FVG) and prior liquidity sweep.
📍 **Entry:** Around 144.38
📈 **Target Zones:**
→ First Target: 146.00 (structure retest)
→ Final Target: 148.66 (major liquidity pool and previous high)
❌ **Invalidation:** Break below 143.70
If this move plays out, we could be looking at a solid **Risk-to-Reward above 3:1**. Patience now is key – I’ll wait for a strong bullish engulfing to confirm momentum shift before scaling in.
🧠 *Note:* Fundamentals (Fed tone + JPY weakness) and macro sentiment could serve as accelerators.
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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.