USDJPY descending channel pull back time from demand zone142.200
USD/JPY – 4H Technical Analysis
Setup: Descending Channel + Major Demand Zone
Market Structure:
USD/JPY is currently respecting a descending channel.
Price is now near a major support zone / demand area at 142.200.
This level has historically acted as a strong demand zone, making it a potential buy opportunity.
Trade Idea – Long Setup:
Buy Entry: Around 142.200 (support + demand zone)
Confirmation: Look for bullish reversal candlestick patterns (e.g., hammer, bullish engulfing) or divergence on RSI to confirm entry.
Targets – Key Resistance Levels:
1. 146.600 – First target (top of channel / resistance zone)
2. 149.150 – Strong horizontal resistance
3. 150.900 – Major supply level
4. 154.500 – Long-term resistance / breakout target
Time Frame: 4H
Note:
Wait for confirmation before entering.
Ideal setup for risk-reward favoring buyers from a key structure level.
Manage risk with appropriate stop loss below demand zone (~141.500).
Setup: Descending Channel + Major Demand Zone
Market Structure:
USD/JPY is currently respecting a descending channel.
Price is now near a major support zone / demand area at 142.200.
This level has historically acted as a strong demand zone, making it a potential buy opportunity.
Trade Idea – Long Setup:
Buy Entry: Around 142.200 (support + demand zone)
Confirmation: Look for bullish reversal candlestick patterns (e.g., hammer, bullish engulfing) or divergence on RSI to confirm entry.
Targets – Key Resistance Levels:
1. 146.600 – First target (top of channel / resistance zone)
2. 149.150 – Strong horizontal resistance
3. 150.900 – Major supply level
4. 154.500 – Long-term resistance / breakout target
Time Frame: 4H
Note:
Wait for confirmation before entering.
Ideal setup for risk-reward favoring buyers from a key structure level.
Manage risk with appropriate stop loss below demand zone (~141.500).
Trade active
entry level hit order activeNote
180 pips hit
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Disclaimer
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t.me/+h9QmoO36xFs1ZTk0
free forex gold and crypto currency signals And Technical analysis started your journey with us
t.me/+h9QmoO36xFs1ZTk0
free forex gold and crypto currency signals And Technical analysis started your journey with us
t.me/+h9QmoO36xFs1ZTk0
Related publications
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.