USD/JPY Technical Setup – Bullish Continuation in Play?
USD/JPY is currently respecting a short-term ascending trendline, indicating sustained buying interest. The price consolidates just below a key resistance zone around 145.20, suggesting a potential breakout setup.
🔍 Key Technical Highlights:
* 📈 Trendline Support: Price has consistently respected this ascending trendline, forming higher lows—a strong bullish signal.
* 🔲 Resistance Zone: The 145.15–145.20 level has acted as a rejection zone previously. A breakout above this could invite momentum buying.
* 🕐 Consolidation Range: The market is coiling tightly just below resistance—watch for a volatility expansion.
* 🔮 Projection : If the price holds above the trendline and breaks 145.20 convincingly, we could see a bullish move towards 145.60+.
⚠️ Invalidation: A clean break below the trendline and 144.80 could shift the short-term bias back to neutral or bearish.
USD/JPY is currently respecting a short-term ascending trendline, indicating sustained buying interest. The price consolidates just below a key resistance zone around 145.20, suggesting a potential breakout setup.
🔍 Key Technical Highlights:
* 📈 Trendline Support: Price has consistently respected this ascending trendline, forming higher lows—a strong bullish signal.
* 🔲 Resistance Zone: The 145.15–145.20 level has acted as a rejection zone previously. A breakout above this could invite momentum buying.
* 🕐 Consolidation Range: The market is coiling tightly just below resistance—watch for a volatility expansion.
* 🔮 Projection : If the price holds above the trendline and breaks 145.20 convincingly, we could see a bullish move towards 145.60+.
⚠️ Invalidation: A clean break below the trendline and 144.80 could shift the short-term bias back to neutral or bearish.
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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.