📈 USD/JPY LONG IDEA – Potential Bullish Reversal
USD/JPY is showing signs of a potential recovery after finding strong support at the 141.50 zone, where previous demand and a volume node converge. Price has rebounded off the support and is now looking to reclaim lost ground.
🟢 Entry: 142.812
🎯 Target: 148.157 – Retest of major resistance and volume imbalance above
🛑 Stop Loss: 141.424
📊 Risk/Reward Ratio: 3.87
📆 Estimated Target Date: May 6, 2025
📈 Projected Move: +3.74% or +5.345 points
🔍 Indicators:
Momentum histogram shows fading bearish pressure.
Bullish MACD-style wave forming a potential reversal.
Price holding above value area low (yellow/blue volume zones).
📌 Key Resistance to Watch: 144.072
A break above this could accelerate the move higher toward the 148 zone.
USD/JPY is showing signs of a potential recovery after finding strong support at the 141.50 zone, where previous demand and a volume node converge. Price has rebounded off the support and is now looking to reclaim lost ground.
🟢 Entry: 142.812
🎯 Target: 148.157 – Retest of major resistance and volume imbalance above
🛑 Stop Loss: 141.424
📊 Risk/Reward Ratio: 3.87
📆 Estimated Target Date: May 6, 2025
📈 Projected Move: +3.74% or +5.345 points
🔍 Indicators:
Momentum histogram shows fading bearish pressure.
Bullish MACD-style wave forming a potential reversal.
Price holding above value area low (yellow/blue volume zones).
📌 Key Resistance to Watch: 144.072
A break above this could accelerate the move higher toward the 148 zone.
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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.