USDJPY Analysis
Potential Pullback Before Bearish Continuation
USDJPY is currently in a downtrend, respecting the descending trendline.
Price is approaching a key supply zone (151.00 - 151.50), where a potential reversal may occur.
A short-term bullish correction could push price into this resistance area before continuing the overall bearish trend. If price rejects this level, we could see a drop towards 148.00 - 147.00.
Bias: Bearish
Key Levels:
📉 Resistance: 151.00 - 151.50 (Supply Zone)
📉 Target: 148.00 - 147.00 (Potential Downside)
Watch for rejection patterns in the supply zone before entering shorts.
What’s your outlook? Drop your thoughts below!
USDJPY is currently in a downtrend, respecting the descending trendline.
Price is approaching a key supply zone (151.00 - 151.50), where a potential reversal may occur.
A short-term bullish correction could push price into this resistance area before continuing the overall bearish trend. If price rejects this level, we could see a drop towards 148.00 - 147.00.
Bias: Bearish
Key Levels:
📉 Resistance: 151.00 - 151.50 (Supply Zone)
📉 Target: 148.00 - 147.00 (Potential Downside)
Watch for rejection patterns in the supply zone before entering shorts.
What’s your outlook? Drop your thoughts below!
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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.
My FREE Telegram Channel:
t.me/EaglePipsPro1
t.me/EaglePipsPro1
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.