MYM Tokyo Open Battle Line: 44,367 Under Siege
Heading into the Tokyo open on MYM, price is pressing against the 44,367 resistance a level that has now rejected twice intraday.
From a structural standpoint, we’re trading within a rising short-term trend line, but momentum into this high has been relatively shallow, suggesting a potential fade setup. On the bearish side, a rejection from 44,367 would likely send price back to the 50% retracement at 44,250, with a further extension to the 100% retrace at 44,133 if sellers maintain control.
This aligns with the repeated supply reaction and the lack of impulsive buying volume I’m assigning this path a 65% probability. On the bullish side, a decisive break and sustained hold above 44,367 opens the door for continuation into the next liquidity pocket (44,420–44,450), targeting prior volume imbalance fill. This scenario requires follow-through during the typically thinner Tokyo session, so I’m giving it a 35% probability. In short I’m leaning bearish unless we see a clean breakout and hold above the high, at which point the bias flips long.
From a structural standpoint, we’re trading within a rising short-term trend line, but momentum into this high has been relatively shallow, suggesting a potential fade setup. On the bearish side, a rejection from 44,367 would likely send price back to the 50% retracement at 44,250, with a further extension to the 100% retrace at 44,133 if sellers maintain control.
This aligns with the repeated supply reaction and the lack of impulsive buying volume I’m assigning this path a 65% probability. On the bullish side, a decisive break and sustained hold above 44,367 opens the door for continuation into the next liquidity pocket (44,420–44,450), targeting prior volume imbalance fill. This scenario requires follow-through during the typically thinner Tokyo session, so I’m giving it a 35% probability. In short I’m leaning bearish unless we see a clean breakout and hold above the high, at which point the bias flips long.
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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.