Current Price Action:
The USD/JPY pair is trading at 144.414, down -0.842 (-0.588%).
The price is hovering near the 20-period BMA (144.384) and OXIDA level (141.784), suggesting a potential inflection point.
Support and Resistance Levels:
Immediate Resistance: 144.500, 145.000, 145.500.
Strong Resistance: 146.000, 146.530, 147.000 (profit target).
Immediate Support: 144.000, 143.850 (double-bottom level), 143.500.
Strong Support: 144.270 (near current price), 143.850 (critical).
Technical Indicators:
BMA (20-period): The price is slightly above the BMA at 144.384, indicating neutral momentum.
OXIDA: The OXIDA level at 141.784 is far below, acting as a long-term support.
Market Sentiment:
The downtrend is mild (-0.588%), but the proximity to key support (143.850-144.000) suggests potential consolidation or reversal if buyers step in.
A break below 143.500 could signal further downside, while a rebound above 145.000 may target 146.000-147.000.
Trading Strategy:
Bullish Scenario: If price holds above 144.000, consider longs with targets at 145.000, 145.500, and 146.000. Stop loss below 143.850.
Bearish Scenario: A break below 143.850 could lead to a test of 143.500. Shorts may target 143.000 with a stop above 144.270.
Conclusion:
The pair is in a short-term downtrend but near critical support. Watch for reactions at 144.000-144.500 to determine the next directional move. Risk management is key given the tight range.
The USD/JPY pair is trading at 144.414, down -0.842 (-0.588%).
The price is hovering near the 20-period BMA (144.384) and OXIDA level (141.784), suggesting a potential inflection point.
Support and Resistance Levels:
Immediate Resistance: 144.500, 145.000, 145.500.
Strong Resistance: 146.000, 146.530, 147.000 (profit target).
Immediate Support: 144.000, 143.850 (double-bottom level), 143.500.
Strong Support: 144.270 (near current price), 143.850 (critical).
Technical Indicators:
BMA (20-period): The price is slightly above the BMA at 144.384, indicating neutral momentum.
OXIDA: The OXIDA level at 141.784 is far below, acting as a long-term support.
Market Sentiment:
The downtrend is mild (-0.588%), but the proximity to key support (143.850-144.000) suggests potential consolidation or reversal if buyers step in.
A break below 143.500 could signal further downside, while a rebound above 145.000 may target 146.000-147.000.
Trading Strategy:
Bullish Scenario: If price holds above 144.000, consider longs with targets at 145.000, 145.500, and 146.000. Stop loss below 143.850.
Bearish Scenario: A break below 143.850 could lead to a test of 143.500. Shorts may target 143.000 with a stop above 144.270.
Conclusion:
The pair is in a short-term downtrend but near critical support. Watch for reactions at 144.000-144.500 to determine the next directional move. Risk management is key given the tight range.
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.
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.