USDJPY 1H Analysis (March 7, 2025)
Market Structure & Price Action:
The price is currently around 147.44, after a recent downtrend.
A key resistance level is marked at 148.169, which previously acted as support.
A bullish divergence is visible between price and RSI, indicating a possible reversal or at least a short-term retracement.
Technical Indicators:
RSI (Relative Strength Index):
RSI is at 40.69, showing an upward trend while price is still declining.
This divergence could suggest weakening selling pressure and potential bullish momentum.
Volume:
Volume shows some spikes, suggesting buyers might be stepping in at this level.
Key Levels to Watch:
148.169 – If price breaks above this level, we may see further bullish movement.
147.00 – A crucial support level; a break below could lead to further downside.
Trading Bias & Strategy:
If bullish divergence plays out, buying opportunities may emerge above 147.50 with targets near 148.00-148.20.
If price fails to reclaim 148.169, further downside continuation is possible.
Market Structure & Price Action:
The price is currently around 147.44, after a recent downtrend.
A key resistance level is marked at 148.169, which previously acted as support.
A bullish divergence is visible between price and RSI, indicating a possible reversal or at least a short-term retracement.
Technical Indicators:
RSI (Relative Strength Index):
RSI is at 40.69, showing an upward trend while price is still declining.
This divergence could suggest weakening selling pressure and potential bullish momentum.
Volume:
Volume shows some spikes, suggesting buyers might be stepping in at this level.
Key Levels to Watch:
148.169 – If price breaks above this level, we may see further bullish movement.
147.00 – A crucial support level; a break below could lead to further downside.
Trading Bias & Strategy:
If bullish divergence plays out, buying opportunities may emerge above 147.50 with targets near 148.00-148.20.
If price fails to reclaim 148.169, further downside continuation is possible.
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.