The USDJPY 4H chart is showing signs of recovery after a period of volatility. Price recently bounced from the 146.20–146.70 support zone 🛡️, which has acted as a strong demand area multiple times in the past week. Buyers have stepped in strongly from that level, and the pair is now trading around 147.60–147.85, pushing upward with a constructive bullish structure.
Looking at the broader picture, USDJPY had been under pressure earlier, printing lower highs and testing deeper supports. However, the rejection near 146.20 marks a potential swing low formation 🔄, as price immediately rallied higher with strong bullish candles. Importantly, the market has shifted above the mid-level 147.20–147.40 area, turning it into a short-term base for buyers.
On the upside, the immediate resistance 🚧 lies at 147.85–148.00, which is already being tested. A breakout above this zone would expose the higher resistance at 148.52, a key level where sellers previously rejected price. If bulls clear 148.52 decisively, the next possible leg could target the 149.00 handle, a psychological level and prior supply zone.
The trade setup 🎯 as shown on the chart is structured with bullish bias:
• Entry: Around 147.60–147.85 (already activated)
• Stop Loss (SL): Near 147.18 (just below recent consolidation base 🛡️)
• Target (TP): First target near 148.00–148.10, extended target at 148.52 🚀
This gives a risk-to-reward ratio better than 2:1 ✅, which is favorable for continuation trades.
The structure also shows multiple “Buy (B)” markers clustering at the bottom around 146.20–146.70, confirming that dip-buying interest is strong. On the other hand, the “Sell (S)” markers above 148.50 highlight the importance of this resistance zone. Bulls need strong momentum to flip this level; otherwise, price may stall temporarily.
In terms of strategy, the bullish trade remains valid as long as USDJPY holds above 147.20. Traders can consider booking partial profits 💰 near 148.00 and leaving the rest toward 148.50. Once price moves in profit, it’s wise to trail the stop-loss 🔒 to breakeven or slightly in the green to protect against sudden pullbacks.
✅ Conclusion:
USDJPY is looking bullish in the short term 📈 after bouncing from 146.20–146.70 support. A move toward 148.00–148.50 is favored, with potential extension toward 149.00 if momentum stays strong. However, active risk management is key—secure small profits at intermediate levels and trail stops as the trend progresses.
Looking at the broader picture, USDJPY had been under pressure earlier, printing lower highs and testing deeper supports. However, the rejection near 146.20 marks a potential swing low formation 🔄, as price immediately rallied higher with strong bullish candles. Importantly, the market has shifted above the mid-level 147.20–147.40 area, turning it into a short-term base for buyers.
On the upside, the immediate resistance 🚧 lies at 147.85–148.00, which is already being tested. A breakout above this zone would expose the higher resistance at 148.52, a key level where sellers previously rejected price. If bulls clear 148.52 decisively, the next possible leg could target the 149.00 handle, a psychological level and prior supply zone.
The trade setup 🎯 as shown on the chart is structured with bullish bias:
• Entry: Around 147.60–147.85 (already activated)
• Stop Loss (SL): Near 147.18 (just below recent consolidation base 🛡️)
• Target (TP): First target near 148.00–148.10, extended target at 148.52 🚀
This gives a risk-to-reward ratio better than 2:1 ✅, which is favorable for continuation trades.
The structure also shows multiple “Buy (B)” markers clustering at the bottom around 146.20–146.70, confirming that dip-buying interest is strong. On the other hand, the “Sell (S)” markers above 148.50 highlight the importance of this resistance zone. Bulls need strong momentum to flip this level; otherwise, price may stall temporarily.
In terms of strategy, the bullish trade remains valid as long as USDJPY holds above 147.20. Traders can consider booking partial profits 💰 near 148.00 and leaving the rest toward 148.50. Once price moves in profit, it’s wise to trail the stop-loss 🔒 to breakeven or slightly in the green to protect against sudden pullbacks.
✅ Conclusion:
USDJPY is looking bullish in the short term 📈 after bouncing from 146.20–146.70 support. A move toward 148.00–148.50 is favored, with potential extension toward 149.00 if momentum stays strong. However, active risk management is key—secure small profits at intermediate levels and trail stops as the trend progresses.
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Trade forex, indices, stocks and metals with up to US$100.000 in company's funding.
Complete a challenge to access funding or go for instant deposit.
Trading involves substantial risk. Not financial advice
Complete a challenge to access funding or go for instant deposit.
Trading involves substantial risk. Not financial advice
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.