USDJPY has just broken above the descending trendline but stalled right at the confluence resistance near 147.100 – a former strong distribution zone. Although buyers have pushed the price higher, the current price structure is sketching a potential double top pattern, signaling a possible exhaustion of the bullish momentum.
If this pattern confirms and price breaks below the FVG support zone around 145.161, then 144.300 will likely be the next target – a level that previously halted price before the recent rally. Price action should be closely monitored here, as a breakdown below 145.161 could be an early reversal signal.
Disappointing Nonfarm data has pushed bond yields lower and weakened the USD, reinforcing expectations of an earlier Fed rate cut. If this week’s CPI also comes in lower than expected, USDJPY could sharply drop from the current top.
If this pattern confirms and price breaks below the FVG support zone around 145.161, then 144.300 will likely be the next target – a level that previously halted price before the recent rally. Price action should be closely monitored here, as a breakdown below 145.161 could be an early reversal signal.
Disappointing Nonfarm data has pushed bond yields lower and weakened the USD, reinforcing expectations of an earlier Fed rate cut. If this week’s CPI also comes in lower than expected, USDJPY could sharply drop from the current top.
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Top trading opportunities are waiting for you! : t.me/+aljKUwb-ar1jNDg1
🔥 High-quality signals – Win rate up to 85%
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🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
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.