USD/JPY Dips FurtherUSD/JPY Dips Further
USD/JPY declined below 144.50 and is currently consolidating losses.
Important Takeaways for USD/JPY Analysis Today
- USD/JPY is trading in a bearish zone below the 146.10 and 144.90 levels.
- There is a short-term bearish trend line forming with resistance at 144.25 on the hourly chart at FXOpen.
USD/JPY Technical Analysis
On the hourly chart of USD/JPY at FXOpen, the pair started a steady decline from well above the 146.00 zone. The US Dollar gained bearish momentum below the 145.00 support against the Japanese Yen.
The pair even settled below the 144.50 level and the 50-hour simple moving average. There was a spike below 144.00 and the pair traded as low as 143.72. It is now consolidating losses with a bearish angle. Immediate resistance on the USD/JPY chart is near the 23.6% Fib retracement level of the recent decline from the 146.10 swing high to the 143.42 low at 144.25.
There is also a short-term bearish trend line forming with resistance at 144.25. The first major resistance is near the 144.90 zone and the 50% Fib retracement level of the recent decline from the 146.10 swing high to the 143.42 low.
If there is a close above the 144.90 level and the hourly RSI moves above 50, the pair could rise toward 145.50. The next major resistance is near 146.10, above which the pair could test 147.50 in the coming days.
On the downside, the first major support is near 143.70. The next major support is near the 143.20 level. If there is a close below 143.20, the pair could decline steadily. In the stated case, the pair might drop toward the 142.00 support.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
USDJPY trade ideas
USDJPY TRADE PLAN – MAY 21 BIG BREAKOUT AHEAD?USDJPY TRADE PLAN – MAY 21 | FED HAWKISH BUT YEN STAYS WEAK – BIG BREAKOUT AHEAD?
USDJPY is entering a critical technical zone as the market weighs the Fed’s persistent hawkish stance against Japan’s passive approach to the Yen’s depreciation. After a strong rally, we are seeing a potential exhaustion with key levels in play.
🌍 MACRO CONTEXT:
FED remains hawkish: Officials continue to support higher-for-longer interest rates to tame inflation → USD remains firm.
Bank of Japan silence: No signs of FX intervention or rate policy shift, causing ongoing weakness in JPY.
Risk sentiment neutral: Risk-off flows are muted; USDJPY remains trapped in a wide range – awaiting macro catalysts.
📊 TECHNICAL OUTLOOK (H2 CHART):
Price is now correcting within a falling channel.
Price broke below the MA200 and rising trendline, now retesting a key support zone at 143.77.
The current range 141.99 – 144.71 is critical – a breakout from either end may dictate the next medium-term direction.
🎯 TRADE SETUPS FOR TODAY:
✅ SCENARIO A – SELL THE RALLY (PRIMARY BIAS):
If price rejects 144.71:
SELL ZONE: 144.70 – 144.71
SL: 145.10
TP: 143.77 → 143.30 → 142.50 → 141.99
→ Key resistance area – price may trigger strong seller interest.
✅ SCENARIO B – SELL ON BREAKDOWN:
If price breaks 143.77 and retests:
SELL ZONE: 143.60 – 143.70 (post-breakdown entry)
SL: 144.10
TP: 142.50 → 142.00 → 141.99
✅ SCENARIO C – SHORT-TERM BUY (LESS FAVORABLE):
If price reacts positively at 141.99 with bullish confirmation:
BUY ZONE: 141.90 – 141.99
SL: 141.50
TP: 142.50 → 143.00 → 143.77
→ Only take this setup if strong reversal signals appear.
🔑 KEY LEVELS TO WATCH:
Resistance: 144.71 – 145.00 – 148.44
Support: 143.77 – 143.30 – 141.99 – 141.20
📌 FINAL THOUGHTS:
USDJPY remains in a volatile consolidation zone, pressured by a hawkish Fed but lacking JPY strength. Watch for PMI data and Fed comments this week for directional cues. Until then, respect the current range and trade with discipline.
📣 Bias favors SELL from 144.71 unless buyers reclaim full control – trade the reaction, not the prediction!
JPYUSD | Head & Shoulders Breakdown Setup | Bearish move Build🔍 Technical Overview
A clear Head & Shoulders pattern has formed on the JPY/USD 8H chart — a well-known bearish reversal setup often signaling a shift from bullish momentum to bearish control. The pattern is confirmed with a left shoulder, higher head, and lower right shoulder, all aligned along a defined neckline acting as key horizontal support.
Currently, the price is retesting both the neckline and a descending trendline, which adds confluence to the bearish bias. If price fails to break back above this resistance zone, we can anticipate a further drop toward the projected target zone.
📌 Key Technical Levels
Head: ~0.007180
Neckline Support: ~0.006660
Retest Area (Confluence Zone): ~0.006940–0.006960
Bearish Target: ~0.006470 (measured from the head to the neckline and projected downward)
Trendline Resistance: Acting as dynamic resistance since the recent high
⚙️ Price Action Insights
Pattern Clarity: The structure of the H&S is clean and symmetrical — a classic sign of distribution and topping out after a bullish rally.
Retest in Play: Price is currently retesting the trendline resistance. Rejection from this area strengthens bearish continuation potential.
Momentum Shift: Bullish pressure is weakening. Lower highs on the right shoulder show buyer exhaustion.
🧠 Mindset & Strategy
This setup demonstrates how patience, pattern recognition, and confluence can align to offer a high-probability trading idea.
✅ Wait for Confirmation: A strong bearish candle off the retest zone or neckline breakdown gives a cleaner short entry.
✅ Risk Management First: Place stops just above the right shoulder or trendline (~0.007000 zone).
✅ Target Logically: The target is not random — it’s derived using the classic measured move technique, matching the head-to-neckline distance.
📋 Trade Idea (Not Financial Advice)
📍 Entry: On rejection at retest zone or confirmed neckline breakdown
🎯 Target: 0.006470
🛑 Stop Loss: Above 0.007000 (trendline/right shoulder area)
⚖️ Risk/Reward Ratio: Minimum 2:1 if entered post-retest confirmation
🧠 Trader’s Note (Minds Insight)
This is where discipline comes into play. Don’t chase the move. Let the pattern complete and confirm. Head and Shoulders formations are among the most reliable reversal patterns — but only after neckline breaks or strong rejections.
This setup teaches traders to trust the process, combine horizontal and diagonal resistance, and let the price action do the talking.
USDJPY COT and Liquidity AnalysisCOT Report Analysis:
Overall, we can still see red data for the USDJPY, but let's look at the shorts closely. You can see they are being reduced. Check the charts where I highlighted the reports and how I read them.
Hey, what up traders, another week, another COT data and Liquidity report. This is a big part of my FX Trading. I'm always trying to trade with the Big players, so knowing their positions is a good thing.
📍Please be aware that institutions report data to the SEC on Tuesdays and data are reported on Fridays - so again, we as retail traders have a disadvantage, but there is the possibility to read between the lines. Remember, in the report is what they want you to see; that's why prices mostly reverse on Wednesday after the report, so their cards are hidden as long as possible. However, if the trend is running, you can read it and use it to your advantage.
📍Tip: If the level has confluence with the high volume on COT, it can be strong support / Resistance.
Analysis done on the Tradenation Charts
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
"Adapt what is useful, reject what is useless, and add what is specifically your own."
Have a great trading week, see in the next report.
— David Perk aka Dave FX Hunter ⚔️
Bearish Pressure on USDJPY Likely to Continue With Higher YieldsUSDJPY was rejected at the 38.2% retracement level. Rising yields may continue to exert downward pressure until the 140 support level is tested. The true direction for USDJPY will likely become clearer after that test.
Similar to USDJPY, EURJPY has also formed a bearish technical outlook. You can check our earlier post on EURJPY here:
Unless EURUSD rises sharply, the downward pressure on both USDJPY and EURJPY is likely to persist.
USDJPY Technical Breakdown & Macro ContextThe USDJPY pair is showing clear signs of bearish momentum, both technically and fundamentally.
🔍 Technical Overview (H1 Chart):
USDJPY has broken below an expanding channel, as well as the 200-period moving average on the 4-hour chart. This dual confirmation of trend weakness suggests a high-probability downside continuation, with selling pressure accelerating.
This breakdown often signals a reversal or correction phase after a period of broad price expansion — a classic exhaustion pattern now materializing as sellers regain control.
💴 Macro & Bond Market Insight – Japan:
Adding to the technical setup, Japan’s latest 20-year government bond auction just recorded the weakest investor demand since 2012. (Source – Bloomberg)
Despite this, Reuters reports that market participants still expect the Bank of Japan to continue its monetary tightening path, potentially pushing long-term JGB yields higher — and boosting demand for the yen in the process.
When tightening expectations rise in Japan while the U.S. grapples with fiscal risk and softening yields, the interest rate differential narrative shifts, weakening USDJPY.
USDJPY: Dear Traders,
Any Breaks over the current zone and over the red bearish trend line, is a sign of bullish moves till the next zone, 147.841.
On the other hand, any breaks below the zone and below the bullish green trend line is a sign of bearish moves till the 142.234.
Take care and have a good week.
USDJPY Technical Analysis.This chart shows the USD/JPY (U.S. Dollar / Japanese Yen) currency pair on the 1-hour timeframe, with the following analysis:
1. Current Price: 144.530
2. Trend Outlook: The analysis suggests a bearish scenario is likely.
3. Price Action:
The price has been consolidating below resistance.
The chart outlines a potential bearish rejection from the resistance zone.
4. Stop Loss (SL): Marked above the current price action, above the recent highs — a safety level in case price reverses and breaks upwards.
5. Target: The target is around 144.121, indicating a short position with a relatively small risk-to-reward range.
6. Scenarios:
Red path (bearish): Expected price to drop after failing to break above resistance.
Green path (invalidated scenario): If the price breaks above SL, the bearish setup becomes invalid.
This chart reflects a short trade setup, betting on a pullback or continuation of the downtrend. Let me know if you’d like help calculating position size, risk/reward ratio, or creating an alert system for this trade.
USDJPY Tap and Dump – Perfect Lower Timeframe ReversalSmart Money Scalpers, it’s time to eat 🍽️
USDJPY just played into a beautiful supply zone rejection on the 30-minute chart, with clean confluence from structure, trendlines, and OB reaction. Let’s break it down like a pro:
🧠 Market Structure Narrative:
🔻 Strong bearish momentum
🔹 Price created a clear lower low
🔹 Pullback into a premium zone = sniper short entry setup
You’re looking at textbook bearish order flow, with price rejecting hard from the 143.805 zone, which served as a high-risk institutional POI (Point of Interest).
🟥 Supply Zone / OB Zone:
📌 OB Range:
Top: 143.805
Bottom: 143.639
This red zone triggered the last bearish impulse and was just tapped and rejected with precision.
The reaction candle wick shows clear rejection = institutions likely mitigating and initiating shorts.
📐 Trendline Confluence:
You’ve got a perfect descending channel running down with clean touches on both trendlines.
Price bounced off the upper line → trendline + OB = double whammy setup 💥
🎯 Entry Plan:
Entry: 143.512
SL: 143.805 (above OB)
TP: 142.358 (next liquidity pocket)
This gives a juicy RRR of around 3.9–4x, depending on your exact fill.
🎯 Why This Works:
Price reacted to a clear OB
Inside a descending channel
Weak bullish push = no conviction
Favorable RRR = asymmetrical edge
Perfect combo of SMC + structure + execution = sniper-grade entry 🔫
🧠 Key Lesson:
“Let price come to you. Smart Money doesn’t chase — it traps and snaps.”
This is a trap sprung with surgical precision. Execution was key — and you nailed it.
🗣️ If this setup hit your radar too, drop a “🎯” in the comments
📌 Save this — these are the trades that build your bankroll over time.
USDJPY 1HThe chart you've shared shows the USD/JPY currency pair on a 1-hour timeframe. Here's a quick analysis based on the image:
Key Observations:
1. Descending Channel: The price has been moving within a well-defined descending channel, marked by parallel trendlines.
2. Rejections:
Red arrows indicate resistance points where the price was rejected at the upper trendline.
Green arrows indicate support points where the price bounced from the lower trendline.
3. Breakout Expectation: The purple arrow suggests a bearish breakout is anticipated below the lower channel support, projecting a move toward the 142.000–141.500 range.
Interpretation:
The chartist expects a continuation of the downtrend if the price decisively breaks below the current support.
The pattern suggests that unless the price breaks above the upper resistance line, sellers remain in control.
If you’d like, I can help:
Identify key support/resistance zones numerically
Suggest entry/exit levels
Run a technical indicator-based analysis (if data is available)
Would you like help with any of these?
USDJPY InsightGreetings to all subscribers!
Please feel free to share your personal opinions in the comments. Don't forget to like and subscribe!
Key Points
- Regarding the ceasefire, Ukraine is calling for a summit while Russia is demanding a memorandum outlining the principles and timeline for resolution, leading to a stalemate.
- The Reserve Bank of Australia cut its benchmark interest rate by 25 basis points from 4.10% to 3.85%. Governor Michele Bullock revealed that a 50bp cut was also discussed during the monetary policy meeting.
- Concerns over the U.S. fiscal deficit have intensified, pushing Treasury yields higher, as the tax-cut-inclusive budget is unlikely to pass in this week’s plenary session due to political disagreements.
Key Economic Events This Week
+ May 21: UK April Consumer Price Index
+ May 22: U.S. May Manufacturing PMI, U.S. May Services PMI
+ May 23: Germany Q1 GDP
USDJPY Chart Analysis
The USDJPY surged near the 149 level but reversed direction and fell to the 144 level. However, with a support line forming around 144, the pair is expected to regain upward momentum from this point. If the rebound scenario plays out, a rise toward the 151 level is anticipated. That said, if the 144 level is broken, there is potential for a further drop to the 140 level, so this alternative scenario should also be considered.
USDJPY – Potential Reversal Setup from Key Demand Zone
After several days of consistent bearish momentum, price action on USDJPY has finally tapped into a well-defined demand zone just below 144.40 – an area previously tested with strong bullish reaction.
I’m now anticipating a potential **Change of Character (CHOCH)** as price forms a temporary floor. The rejection wick near 144.10 gives a hint of buyer interest, with confluence from a Fair Value Gap (FVG) and prior liquidity sweep.
📍 **Entry:** Around 144.38
📈 **Target Zones:**
→ First Target: 146.00 (structure retest)
→ Final Target: 148.66 (major liquidity pool and previous high)
❌ **Invalidation:** Break below 143.70
If this move plays out, we could be looking at a solid **Risk-to-Reward above 3:1**. Patience now is key – I’ll wait for a strong bullish engulfing to confirm momentum shift before scaling in.
🧠 *Note:* Fundamentals (Fed tone + JPY weakness) and macro sentiment could serve as accelerators.
---
Current USDJPY Long Position Analysis
Analysis & Reasoning
Bullish Reversal Zone
The price dropped and found a strong support around 144.30 - 144.35, shown by the sharp rejection wick and a V-shaped recovery.
This area likely served as a demand zone — where buyers stepped in aggressively.
Structure Break / Momentum Shift
After bottoming out, the price broke short-term lower highs, indicating a bullish shift in momentum.
The buy entry is likely placed after a pullback within this new bullish structure, trying to catch the next leg up.
Risk-Reward Setup
Stop loss is placed below recent swing lows to protect against a failed reversal.
Multiple Take Profit Targets are marked:
Target 1 is a conservative intra-day high.
Target 2 likely represents a key resistance or supply level.
Target 3 is the most ambitious, aiming for a full retracement to the prior high.
Volume/Confirmation (assumed)
Though not visible in the screenshot, this kind of trade would typically be backed by confirmation like a bullish engulfing candle, support zone, or even RSI divergence.
Summary of the Buy Setup:
> Reversal trade from a key support zone after a strong bearish move.
> Entry taken after initial bullish confirmation.
> Targets are structured to scale out profits at key resistance points.
> Solid risk-to-reward ratio and structure-aware setup.
Technical Analysis Report: Trading GBP/USDThis technical analysis report focuses on the GBP/USD currency pair, also known as "Cable," which represents the British pound against the US dollar. The report provides an overview of current market conditions, key technical indicators, and trading strategies based on general technical principles and recent market insights up to May 20, 2025. Since specific real-time price data for this date is not available, the analysis uses historical patterns, plausible price levels based on recent trends, and macroeconomic factors influencing GBP/USD. Traders should verify current price levels on their platforms.
1. Market Overview
The GBP/USD pair is influenced by monetary policies from the Bank of England (BoE) and the Federal Reserve (Fed), economic data (e.g., UK CPI, US Non-Farm Payrolls), and global risk sentiment. Key factors as of May 20, 2025,
include:
Bank of England Policy: The BoE's stance on interest rates (hawkish or dovish) impacts GBP strength. Persistent UK inflation could support GBP, while signs of economic slowdown may weaken it.
Federal Reserve Policy: Fed rate decisions and US economic data drive USD strength. A hawkish Fed could pressure GBP/USD downward, while a dovish stance may support a GBP rally.
Brexit and Geopolitical Factors: Ongoing UK-EU trade dynamics or geopolitical events may introduce volatility.
Recent Sentiment: Posts on X suggest GBP/USD has been range-bound in early 2025, with traders eyeing UK economic recovery versus US dollar strength.
2. Technical Analysis
The analysis focuses on the daily (D1) and 4-hour (H4) timeframes for GBP/USD, using common technical indicators and price levels derived from historical ranges (e.g., 2023-2024 data) and hypothetical levels for 2025.
Price Action and Trend Analysis
Long-Term Trend (Daily Timeframe):
GBP/USD has historically fluctuated between 1.2000 and 1.4000, with significant support around 1.2500 and resistance near 1.3500-1.3600 (based on 2023-2024 levels).
Recent X posts indicate GBP/USD may be consolidating in a range (e.g., 1.2600-1.3200) after volatility in 2024 driven by Fed and BoE policy divergence.
A breakout above 1.3200 could signal a bullish trend, while a drop below 1.2600 may indicate bearish momentum.
Short-Term Trend (H4 Timeframe):
Intraday price action may show choppy movements within the daily range, with volatility around economic releases (e.g., UK CPI, US FOMC).
Look for higher highs/higher lows (bullish) or lower highs/lower lows (bearish) to confirm short-term direction.
b. Key Support and Resistance Levels
Based on historical levels and Fibonacci retracement analysis (applied to a hypothetical 2024 high of 1.3400 and low of 1.2400):
Resistance:
1.3200: Recent swing high and psychological level.
1.3500: Strong historical resistance (2023-2024 highs).
Support:
1.2600: Psychological level and recent swing low.
1.2400: Major support zone from 2023-2024.
Fibonacci Levels:
38.2% retracement: ~1.2800
50% retracement: ~1.2900
61.8% retracement: ~1.3000
c. Technical Indicators
Moving Averages:
50-day and 200-day SMA: A bullish crossover (50-day above 200-day) signals upward momentum, while a bearish crossover indicates weakness.
Current setup: If GBP/USD is trading above both SMAs (e.g., ~1.2900), it suggests bullish bias; below both, bearish. Price near the 50-day SMA may act as dynamic support/resistance.
Relative Strength Index (RSI):
RSI on the daily chart: Readings above 70 (overbought) suggest a potential pullback; below 30 (oversold) indicates a possible bounce.
Current estimate: RSI near 50 suggests consolidation. Watch for divergences (e.g., price making higher highs but RSI lower highs) for reversal signals.
MACD:
Bullish signal: MACD line crossing above the signal line with a positive histogram.
Bearish signal: MACD line crossing below the signal line.
Current estimate: A flat MACD near the zero line aligns with range-bound price action.
Bollinger Bands:
Price near the upper band (~1.3200) signals potential overbought conditions (sell opportunity); near the lower band (~1.2600) suggests oversold conditions (buy opportunity).
A Bollinger Band squeeze indicates low volatility and a potential breakout.
d. Chart Patterns
Potential Patterns:
Double Top/Bottom: A double top near 1.3200 could signal a bearish reversal; a double bottom near 1.2600 suggests a bullish reversal.
Symmetrical Triangle: Consolidation between 1.2600-1.3200 may form a triangle, with a breakout direction driven by macroeconomic catalysts.
Confirm patterns with high volume and candlestick confirmation (e.g., engulfing patterns).
3. Trading Strategies
Below are two strategies tailored to the current GBP/USD setup, adaptable to bullish or bearish scenarios.
a. Breakout Strategy (Bullish/Bearish)
Setup: Wait for a breakout above resistance (1.3200) or below support (1.2600) on the daily chart, confirmed by a strong close and increased volume.
Entry:
Bullish: Enter long on a daily close above 1.3200, ideally with a retest of the breakout level.
Bearish: Enter short on a daily close below 1.2600, with a retest.
Stop-Loss:
Bullish: Below the breakout candle’s low or 1.3150.
Bearish: Above the breakout candle’s high or 1.2650.
Take-Profit:
Bullish: Target 1.3400 or 1.3500.
Bearish: Target 1.2400 or 1.2300.
Risk-Reward Ratio: Aim for at least 1:2 (e.g., risk 50 pips to gain 100 pips).
b. Range-Bound Strategy
Setup: If GBP/USD is consolidating between 1.2600-1.3200, trade the range using support/resistance.
Entry:
Buy near support (1.2600-1.2650) when RSI is oversold (<30) and a bullish reversal candlestick forms (e.g., hammer).
Sell near resistance (1.3150-1.3200) when RSI is overbought (>70) and a bearish candlestick appears (e.g., shooting star).
Stop-Loss:
Buy: Below support (e.g., 1.2550).
Sell: Above resistance (e.g., 1.3250).
Take-Profit:
Buy: Near resistance (1.3100-1.3200).
Sell: Near support (1.2650-1.2700).
Risk-Reward Ratio: Target 1:1.5 or better.
4. Risk Management
Position Sizing: Risk 1-2% of account capital per trade (e.g., $100-$200 on a $10,000 account).
Stop-Loss: Always use a stop-loss, placed beyond key support/resistance levels to account for volatility.
Leverage: Use low leverage (e.g., 1:10) to manage GBP/USD’s volatility, especially around news events.
News Events: Avoid trading during high-impact releases (e.g., BoE/Fed meetings, UK CPI, US NFP) or widen stop-losses to account for volatility.
5. Macro Considerations and Catalysts
Bullish GBP/USD Catalysts:
Hawkish BoE signals (rate hikes or delayed cuts).
Strong UK economic data (e.g., robust GDP, low unemployment).
Dovish Fed policy weakening the USD.
Bearish GBP/USD Catalysts:
Hawkish Fed signals (higher US rates or yields).
Weak UK economic data (e.g., rising inflation with slowing growth).
Risk-off sentiment boosting USD as a safe haven.
There is too much uncertainty.The USD/JPY exchange rate lingered near 144.50 during the European session, remaining under pressure. Although the U.S. Dollar Index (DXY) found temporary support near 100.10, its overall trend remains uncertain following Moody’s downgrade of the U.S. sovereign credit rating. Market sentiment is currently tilted toward cautious bearishness, with traders concerned about U.S. debt issues and uncertainties in trade policies—sentiments reflected in the dollar’s weakness. Meanwhile, the progress of U.S.-Japan trade negotiations has added to market uncertainty.
Technical Outlook:
Short-Term: If the pair stabilizes above the 143.74 support level and rebounds above 145, it may challenge the 146.19 resistance level in the near term. A decisive breakout above 146.19 could trigger a new upward trend, targeting 147.95 and 148.64.
Long-Term: A genuine confirmation of a bullish regime would require breaking above the 150 psychological level, which hinges on fundamental catalysts such as the Federal Reserve delaying rate cuts or the Bank of Japan shifting to a more accommodative stance.
Key Drivers to Monitor:
U.S. Treasury yield dynamics and Fed policy expectations.
Developments in U.S.-Japan trade talks and risk sentiment shifts.
Volatility in global equity markets and safe-haven flows.
Market participants are advised to exercise caution amid heightened uncertainty, with tight stop-losses recommended for directional trades.
In the market, there are no absolutes, and neither upward nor downward trends are set in stone. Therefore, the ability to judge the balance between market gains and losses is your key to success. Let money become our loyal servant.
USDJPY - New Impulse Soon!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈USDJPY has been overall bullish trading within the rising broadening wedge pattern marked in blue and it is currently hovering around the lower bound of it.
Moreover, the orange zone is a strong structure and support.
🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of structure and lower blue trendline acting as a non-horizontal support.
📚 As per my trading style:
As #USDJPY is around the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
📈The bullish impulse will begin after a break above the last minor high and upper red trendline.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
UsdJpy Trade IdeaUJ is overall bearish on all time frames. We do have price currently sitting below a major level with bearish structures still in play. I'll personally be shorting the pair if price can break down below the level of resistance and retest to confirm the bearish continuation. Well see what happens. Price may also flip the resistance level into support to continue ranging so patience is gonna pay here.