The USDJPY pair is currently facing resistance at a key supply zone near 150.90 - 151.10, aligning with previous structural resistance and a 200 EMA rejection. The price recently made a lower high within a downtrend, indicating further bearish momentum.
Trade Setup:
🔹 Entry: Look for bearish confirmation in the 150.90 - 151.10 supply zone.
🔹 Stop Loss: Above 151.20, beyond recent highs to avoid stop hunts.
🔹 Target: The next demand zone around 148.80 - 149.00, a key support area tested previously.
The bias remains bearish as long as price stays below the 200 EMA and fails to break the resistance zone. A rejection from this level could lead to a continuation of the current downtrend.
📉 Watch for: Rejection patterns, bearish engulfing candles, or confirmation from lower timeframes before entering a short position.
🔔 Stay patient and manage risk accordingly! 🚀
Trade Setup:
🔹 Entry: Look for bearish confirmation in the 150.90 - 151.10 supply zone.
🔹 Stop Loss: Above 151.20, beyond recent highs to avoid stop hunts.
🔹 Target: The next demand zone around 148.80 - 149.00, a key support area tested previously.
The bias remains bearish as long as price stays below the 200 EMA and fails to break the resistance zone. A rejection from this level could lead to a continuation of the current downtrend.
📉 Watch for: Rejection patterns, bearish engulfing candles, or confirmation from lower timeframes before entering a short position.
🔔 Stay patient and manage risk accordingly! 🚀
Trade closed: target reached
TP hit
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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.
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.