USD/JPY Technical Analysis – Bullish Outlook Toward Resistance
Chart Insights:
The price is currently in a recovery phase after a significant drop.
A Fair Value Gap (FVG) zone has been identified, suggesting a potential pullback before further movement.
The target point aligns with the resistance level around 150.155, which acts as a key supply zone.
Potential Scenario:
Price may retrace into the FVG zone around 148.704 – 148.956.
A bullish rebound from this level could drive price toward the resistance at 150.155.
If price reaches the resistance level, further rejection or continuation will depend on market conditions.
Key Levels:
Support Zone: 148.167 – 148.315
FVG Area: 148.704 – 148.956
Resistance Zone: 150.007 – 150.155 (Target area)
Conclusion:
The current structure suggests a bullish bias if price respects the FVG zone for a push higher. However, a break below the FVG could signal further downside movement.
Chart Insights:
The price is currently in a recovery phase after a significant drop.
A Fair Value Gap (FVG) zone has been identified, suggesting a potential pullback before further movement.
The target point aligns with the resistance level around 150.155, which acts as a key supply zone.
Potential Scenario:
Price may retrace into the FVG zone around 148.704 – 148.956.
A bullish rebound from this level could drive price toward the resistance at 150.155.
If price reaches the resistance level, further rejection or continuation will depend on market conditions.
Key Levels:
Support Zone: 148.167 – 148.315
FVG Area: 148.704 – 148.956
Resistance Zone: 150.007 – 150.155 (Target area)
Conclusion:
The current structure suggests a bullish bias if price respects the FVG zone for a push higher. However, a break below the FVG could signal further downside movement.
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Join my telegram (COPY_TRADE)
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Join my refrel broker link
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Related publications
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.