SMC trading point update
Technical analysis of the USD/JPY (US Dollar / Japanese Yen) pair on a 2-hour timeframe. Here's the idea behind the analysis:
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Overall Idea: Bearish Move Toward Support
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Key Levels
Resistance Zone (Yellow Box, Top): Marked with two red arrows — shows strong price rejection around 146.00–147.00 area.
Support Zone (Yellow Box, Bottom): Around 139.85, marked as a target point and support level.
These two zones form the range in which price has been reacting.
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Current Price Action
Price is currently trading at 142.649, well below the 200 EMA (at 144.190), which is a bearish signal.
It has broken below the mid-range and seems to be heading toward the lower support zone (139.85).
---
Trend & Structure
The price is following a downward trend after rejecting from the resistance zone.
The channel suggests a further leg down is likely to complete a measured move.
A temporary retest of the broken trendline might occur before continuation down.
---
RSI (Relative Strength Index)
Currently around 31.83, nearing oversold territory, indicating the potential for:
A short-term bounce before further downside, or
A reversal near the key support zone.
---
Projection
The projection arrow (blue) suggests a bullish rebound from the 139.85 support zone.
This aligns with a potential buy opportunity once support is confirmed.
Mr SMC Trading point
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Conclusion (Trade Idea Summary)
Short-Term Bias: Bearish
Medium-Term Setup: Look for a buy opportunity around 139.85, if price reacts well.
Key Steps:
1. Watch for price to reach 139.85.
2. Look for bullish reversal patterns or confirmations at that level (e.g., bullish engulfing, RSI divergence).
3. If confirmed, a potential long trade could target back toward the 144–145 zone.
Please Support boost this analysis )
Technical analysis of the USD/JPY (US Dollar / Japanese Yen) pair on a 2-hour timeframe. Here's the idea behind the analysis:
---
Overall Idea: Bearish Move Toward Support
---
Key Levels
Resistance Zone (Yellow Box, Top): Marked with two red arrows — shows strong price rejection around 146.00–147.00 area.
Support Zone (Yellow Box, Bottom): Around 139.85, marked as a target point and support level.
These two zones form the range in which price has been reacting.
---
Current Price Action
Price is currently trading at 142.649, well below the 200 EMA (at 144.190), which is a bearish signal.
It has broken below the mid-range and seems to be heading toward the lower support zone (139.85).
---
Trend & Structure
The price is following a downward trend after rejecting from the resistance zone.
The channel suggests a further leg down is likely to complete a measured move.
A temporary retest of the broken trendline might occur before continuation down.
---
RSI (Relative Strength Index)
Currently around 31.83, nearing oversold territory, indicating the potential for:
A short-term bounce before further downside, or
A reversal near the key support zone.
---
Projection
The projection arrow (blue) suggests a bullish rebound from the 139.85 support zone.
This aligns with a potential buy opportunity once support is confirmed.
Mr SMC Trading point
---
Conclusion (Trade Idea Summary)
Short-Term Bias: Bearish
Medium-Term Setup: Look for a buy opportunity around 139.85, if price reacts well.
Key Steps:
1. Watch for price to reach 139.85.
2. Look for bullish reversal patterns or confirmations at that level (e.g., bullish engulfing, RSI divergence).
3. If confirmed, a potential long trade could target back toward the 144–145 zone.
Please Support boost this analysis )
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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.
(Services:✔️ JOIN Telegram channel
#Gold trading ★Analysis★ 📊
Gold trading signals 🚀 99%
t.me/SmcTradingPoin
Join my recommended broker , link 👇
World best broker exness ✅D
one.exnesstrack.org/a/l1t1rf3p6v
#Gold trading ★Analysis★ 📊
Gold trading signals 🚀 99%
t.me/SmcTradingPoin
Join my recommended broker , link 👇
World best broker exness ✅D
one.exnesstrack.org/a/l1t1rf3p6v
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.