USD/JPY1-hour time frame technical analysis next move possible.
This chart represents a USD/JPY (U.S. Dollar / Japanese Yen) 1-hour time frame analysis. The key elements of the chart include:
1. Support and Resistance Levels:
149.294: A lower support level where price could bounce.
150.643: A resistance level that price may break through.
Red Zone (~152.000): A strong supply/resistance area where price may struggle to go higher.
2. Price Action & Prediction:
The price is currently around 149.713 and testing support near 149.294.
The black arrow suggests a bullish scenario, where price is expected to bounce from support and move towards 150.643, potentially reaching the 152.000 resistance zone.
3. Technical Patterns:
A potential breakout setup where price may push higher if it holds above support.
Price previously rejected from the red supply zone (~152.000), meaning it could face resistance again if it reaches there.
This chart suggests a possible buy opportunity around 149.294, with targets at 150.643 and 152.000. However, if price breaks below support, the setup could become invalid.
1. Support and Resistance Levels:
149.294: A lower support level where price could bounce.
150.643: A resistance level that price may break through.
Red Zone (~152.000): A strong supply/resistance area where price may struggle to go higher.
2. Price Action & Prediction:
The price is currently around 149.713 and testing support near 149.294.
The black arrow suggests a bullish scenario, where price is expected to bounce from support and move towards 150.643, potentially reaching the 152.000 resistance zone.
3. Technical Patterns:
A potential breakout setup where price may push higher if it holds above support.
Price previously rejected from the red supply zone (~152.000), meaning it could face resistance again if it reaches there.
This chart suggests a possible buy opportunity around 149.294, with targets at 150.643 and 152.000. However, if price breaks below support, the setup could become invalid.
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.
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.