UJ Could Tumble Back To 140 If Bears Take Expanding Range
Today 
USDJPY Sellers make a Breakout of the Rising Support of the Expanding Range it's been trading in since the Low that started the range back on April 22nd.
An Expanding Range is typically considered a Continuation Pattern suggesting that if Sellers can hold price under the Rising Support, we can suspect JPY to overcome USD in this pair pulling price down continuing the Downtrend it was in prior to entering the pattern.
Once the Breakout of Consolidation is Validated, a Breakout & Retest of the Rising Support could deliver potential Short Opportunities to take price down to the Low of the Range.
Fundamentally, there is a lot of worry about the fall out of Tariff Talks with important trade partners with the 90-Day grace period soon coming to an end, weakening labor market potentially signaling "Stagflation" and additionally, it is suspected that Trump's Tax Cut Bill could add $3 - $5 Trillion to the $36.2 Trillion debt the US is already suffering from, further harming the Dollar.
-tradingview.com/news/reuters.com,2025:newsml_L1N3RT018:0-dollar-on-defensive-as-traders-eye-trump-tax-bill-g7-currency-talks/
-tradingview.com/news/te_news:459470:0-dollar-extends-losses/
USDJPY Sellers make a Breakout of the Rising Support of the Expanding Range it's been trading in since the Low that started the range back on April 22nd.An Expanding Range is typically considered a Continuation Pattern suggesting that if Sellers can hold price under the Rising Support, we can suspect JPY to overcome USD in this pair pulling price down continuing the Downtrend it was in prior to entering the pattern.
Once the Breakout of Consolidation is Validated, a Breakout & Retest of the Rising Support could deliver potential Short Opportunities to take price down to the Low of the Range.
Fundamentally, there is a lot of worry about the fall out of Tariff Talks with important trade partners with the 90-Day grace period soon coming to an end, weakening labor market potentially signaling "Stagflation" and additionally, it is suspected that Trump's Tax Cut Bill could add $3 - $5 Trillion to the $36.2 Trillion debt the US is already suffering from, further harming the Dollar.
-tradingview.com/news/reuters.com,2025:newsml_L1N3RT018:0-dollar-on-defensive-as-traders-eye-trump-tax-bill-g7-currency-talks/
-tradingview.com/news/te_news:459470:0-dollar-extends-losses/
Trade active
Price has made a successful Retest of the Break of the Expanding Range @ 144.398 and was immediately rejected down!
Now Price is being held below the Low created after the Break.
Short Entry @ 143.295
SL @ 143.58
TP @ 140
Note
The DXY has created a Low after breaking through the Rising Support and seems to be experiencing some consolidation.
If the DXY pulls back to the pattern we could see some momentary strength in USD
Note
Looking for New Short Entry at a higher retest of Break of the Rising Support due to previous trade Stop Loss being hit after entering late and missing the initial retest marked by the Yellow circle!
This retest will also be testing the 34 EMA Band after it and the 200 EMA crossed to make a Death Cross!
Note
USDJPY has made a Retest of the Rising Support @ 146.285!
Price is currently in a downfall after being rejected suggesting Bears have control!
Waiting for a Pullback entry
For All Things Currency,
Keep It Current,
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Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
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.
For All Things Currency,
Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
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.