USDJPY Falling wedge potential USD/JPY – Daily Chart Analysis (March 12, 2025)
Market Structure & Key Levels:
Current Price: 148.358
The pair is in a downtrend, forming lower highs and lower lows after breaking a key ascending trendline.
Key Resistance: 149.252 (previous support, now acting as resistance).
Key Support: 140.000 – 142.000 zone (highlighted in purple, strong demand area).
Possible Scenarios:
Bullish Scenario:
A break back above 149.252 could signal trend reversal, potentially pushing USD/JPY toward 152-155 levels.
Confirmation would come from higher volume and RSI breaking above 50.
Bearish Scenario:
If the price fails to break 149.252, further downside is likely.
A break below 148.000 could accelerate the decline toward 140.000 support zone.
RSI & Momentum Analysis:
RSI (14) is at 35.77, indicating bearish momentum but nearing oversold conditions.
RSI divergence is not visible yet, meaning the downtrend still has momentum unless buyers step in.
Key Takeaway:
Bearish Bias unless 149.252 is reclaimed.
Key support to watch: 140.000 – 142.000 zone.
Trade Idea:
Sell below 148.000 → Target 142.000.
Buy above 149.252 → Target 152.000+.
