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Japanese Yen / U.S. Dollar forum

2 hours ago

USD/JPY Analysis:

Resistance: 158.1

Support: 156.0

Price is likely to retrace toward 156.0. A break below this level could extend bearish momentum. Alternatively, a breakout above 158.1 may signal bullish continuation.

Trade Ideas:

Sell below 156.0

Buy above 158.1

Use proper risk management.

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12 hours ago

USDJPY Weekly Analysis Based on Main Key Levels

📍 Current Market Price (DCMP)

The current market price for USDJPY is 157.843. This price level is essential for identifying potential trading opportunities.

📉 Key Levels

🛑 Resistance (Above DCMP)
Resistance 1: 157.657
Resistance 2: 158.783
Resistance 3: 160.605

✅ Support (Below DCMP)
Support 1: 155.836
Support 2: 154.014
Support 3: 152.888

📉 Swing Levels
Swing High: 156.751
Swing Low: 148.644

Summary of Analysis
As of now, the USDJPY market is positioned at 157.843. The key resistance level above this price is 157.657, while the support level below is 155.836. The swing high is at 156.751, and the swing low is at 148.644.

Suggested Trades

💼 Intraday Buy Trade

Entry Price: ✨ 157.657
Stop Loss: ❌ 157.300
Take Profit 1: 🎯 158.200
Take Profit 2: 🎯 158.500

📌 Reason for Entry
The price is approaching a key support level at 157.657, indicating a favorable buying opportunity based on technical analysis.

💼 Intraday Sell Trade

Entry Price: ✨ 160.605
Stop Loss: ❌ 160.900
Take Profit 1: 🎯 159.800
Take Profit 2: 🎯 159.500

📌 Reason for Entry
Resistance at 160.605 suggests a potential selling opportunity as it aligns with the technical analysis, providing clear targets below this level.

Conclusion
This analysis provides a concise overview of key levels and trade opportunities for USDJPY. By monitoring these levels, traders can make informed decisions in the current market environment. Stay tuned for more insights, and happy trading!