In my previous analysis, I held a long bias on USD/JPY; however, recent geopolitical tensions and market-moving news have shifted the outlook. The pair has now broken below a key trendline, forming new lower lows, suggesting a potential change in structure.
At this point, two possible scenarios could unfold:
Scenario 1: USD/JPY may retest the breakout zone around the 145.000 level before continuing its move downward.
Scenario 2: The pair may continue its bearish momentum, break through the next significant support at 142.480, and potentially offer a shorting opportunity following a confirmed retest of that level.
Although the chart has shown mixed signals with both bullish and bearish formations, I’m reminded of an insightful quote I read this morning by Mihai_Iacob: “Trade the chart, respect the world around it.”
With that in mind, I will continue to focus on technical structure while remaining mindful of external factors such as geopolitical events and high-impact news that could influence volatility and market direction.
At this point, two possible scenarios could unfold:
Scenario 1: USD/JPY may retest the breakout zone around the 145.000 level before continuing its move downward.
Scenario 2: The pair may continue its bearish momentum, break through the next significant support at 142.480, and potentially offer a shorting opportunity following a confirmed retest of that level.
Although the chart has shown mixed signals with both bullish and bearish formations, I’m reminded of an insightful quote I read this morning by Mihai_Iacob: “Trade the chart, respect the world around it.”
With that in mind, I will continue to focus on technical structure while remaining mindful of external factors such as geopolitical events and high-impact news that could influence volatility and market direction.
Trade active
USD/JPY has retested the 145.000 area and appears to have rejected the resistance zone. Im actively in this trade short to the next support zone 142.500
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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.