USDJPY Outlook: Weekly Bearish Bias Despite Temporary Rebalance
Greetings Traders,
It's the start of a new trading week, and our focus is on the Gopher —
USDJPY .
Weekly Overview: Temporary Rebalance, Bearish Tone Intact
On the weekly chart, USDJPY pushed higher to rebalance a Fair Value Gap (FVG) between 149.30 and 148.26. Following this, price was swiftly rejected, forming a shooting star candlestick — a classic sign of potential bearish continuation.
However, for this bearish outlook to remain valid, 146.250 must hold as resistance. A sustained break above this level could invalidate the current bias and signal the possibility of further upside.
Daily Chart: Downside Pressure Builds
Looking at the daily timeframe, we see a sequence of down-close candles, indicating consistent selling pressure. I expect price to continue pushing lower, targeting the FVG below, with a potential sweep of sell-side liquidity resting under recent lows.
Trading Plan: Bearish Setup
Unless disrupted by high-impact fundamentals, I’ll be favouring short positions this week. My planned setup is as follows:
I’ll monitor price reaction closely at key levels to manage the trade accordingly.
It's the start of a new trading week, and our focus is on the Gopher —
USDJPY .Weekly Overview: Temporary Rebalance, Bearish Tone Intact
On the weekly chart, USDJPY pushed higher to rebalance a Fair Value Gap (FVG) between 149.30 and 148.26. Following this, price was swiftly rejected, forming a shooting star candlestick — a classic sign of potential bearish continuation.
However, for this bearish outlook to remain valid, 146.250 must hold as resistance. A sustained break above this level could invalidate the current bias and signal the possibility of further upside.
Daily Chart: Downside Pressure Builds
Looking at the daily timeframe, we see a sequence of down-close candles, indicating consistent selling pressure. I expect price to continue pushing lower, targeting the FVG below, with a potential sweep of sell-side liquidity resting under recent lows.
Trading Plan: Bearish Setup
Unless disrupted by high-impact fundamentals, I’ll be favouring short positions this week. My planned setup is as follows:
- Entry: On confirmation within the 145.63 zone
- Stop Loss: Above 145.97
- Target Zones: Around 144.430
I’ll monitor price reaction closely at key levels to manage the trade accordingly.
Note
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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.