Key Level (Horizontal Resistance)
A horizontal resistance zone around 143.90 has been tested multiple times.
Price is currently retesting this zone, marked as an "Entry Zone", suggesting a potential breakout or rejection.
2. Price Structure
Prior downtrend bottomed near 140.00, then formed higher lows, showing a potential trend reversal.
Current price is approaching the resistance with strong bullish candles, indicating possible momentum buildup.
3. Volume
Volume spikes align with swing highs and lows, suggesting these moves were backed by stronger participation.
4. Scenarios Outlined
Bullish Path (Black Arrow): Breakout above the entry zone could lead to targets near 147.00–150.00, continuing a bullish reversal.
Bearish Path (Red Wave): Rejection at the resistance may cause a drop toward 140.00, forming a ranging or distribution pattern.
The Fed (USD) maintains relatively high interest rates, while the BoJ (JPY) continues a dovish stance, creating upward pressure on USD/JPY.
A horizontal resistance zone around 143.90 has been tested multiple times.
Price is currently retesting this zone, marked as an "Entry Zone", suggesting a potential breakout or rejection.
2. Price Structure
Prior downtrend bottomed near 140.00, then formed higher lows, showing a potential trend reversal.
Current price is approaching the resistance with strong bullish candles, indicating possible momentum buildup.
3. Volume
Volume spikes align with swing highs and lows, suggesting these moves were backed by stronger participation.
4. Scenarios Outlined
Bullish Path (Black Arrow): Breakout above the entry zone could lead to targets near 147.00–150.00, continuing a bullish reversal.
Bearish Path (Red Wave): Rejection at the resistance may cause a drop toward 140.00, forming a ranging or distribution pattern.
The Fed (USD) maintains relatively high interest rates, while the BoJ (JPY) continues a dovish stance, creating upward pressure on USD/JPY.
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.