SMC trading point update
Technical analysis of USD/JPY on the 3-hour timeframe, highlighting a breakdown from trendline resistance and projecting a move toward a significant downside target.
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Technical Breakdown
1. Trendline Rejection
Price sharply rejected from the descending resistance trendline near 148.00 (red arrow), forming a potential lower high.
This suggests continuation of the broader downtrend structure.
2. Break Below EMA 200
Price has broken below the 200 EMA (144.752), signaling a shift in momentum from bullish to bearish.
EMA is likely to act as dynamic resistance if price attempts a pullback.
3. Bearish Projection
The chart outlines a measured move downward toward the target point at 139.955, implying a drop of over 5.36% (approximately 770 pips).
The projected path shows lower highs and lower lows, confirming bearish structure.
4. RSI Confirmation
RSI (14) is currently at 29.98, indicating oversold conditions, but this often supports strong momentum in trending markets—suggesting a possible continuation lower after minor retracements.
Mr SMC Trading point
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Conclusion / Idea Summary
Bias: Bearish
Entry: After trendline rejection and EMA 200 break (~144.75)
Target: 139.955
Invalidation: Break above 148.00 resistance trendline
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Technical analysis of USD/JPY on the 3-hour timeframe, highlighting a breakdown from trendline resistance and projecting a move toward a significant downside target.
---
Technical Breakdown
1. Trendline Rejection
Price sharply rejected from the descending resistance trendline near 148.00 (red arrow), forming a potential lower high.
This suggests continuation of the broader downtrend structure.
2. Break Below EMA 200
Price has broken below the 200 EMA (144.752), signaling a shift in momentum from bullish to bearish.
EMA is likely to act as dynamic resistance if price attempts a pullback.
3. Bearish Projection
The chart outlines a measured move downward toward the target point at 139.955, implying a drop of over 5.36% (approximately 770 pips).
The projected path shows lower highs and lower lows, confirming bearish structure.
4. RSI Confirmation
RSI (14) is currently at 29.98, indicating oversold conditions, but this often supports strong momentum in trending markets—suggesting a possible continuation lower after minor retracements.
Mr SMC Trading point
---
Conclusion / Idea Summary
Bias: Bearish
Entry: After trendline rejection and EMA 200 break (~144.75)
Target: 139.955
Invalidation: Break above 148.00 resistance trendline
---
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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.
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t.me/+BLfaeRJ48BBmNjM8
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Join my recommended broker , link 👇
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Related publications
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.