USD/JPY – 4-Hour Analysis
USD/JPY – 4-Hour Analysis
The USD/JPY pair has recently broken out of its bearish trend, which was characterized by a series of lower highs and lower lows. This marks a potential shift in market structure and opens up opportunities for both levels of resistance at 149.550 and 150.700.
Key Levels to Watch:
Resistance at 149.550:
If the price moves up to test 149.550, watch for confirmation of a breakout. Look for a wick to the downside after the price touches this level, as this could sweep liquidity and confirm support.
Resistance at 150.700:
If the price breaks through 150.700, do not enter a long position immediately. Wait for the price to retrace back to test this level as a new support zone. Ensure there is a wick to the downside, as false breakouts are common and can lead to losses if traded prematurely.
Final Thoughts:
Patience is key in this scenario. Whether the price interacts with 149.550 or 150.700, wait for confirmation signals, such as wicks or retests, before entering any trades. This cautious approach minimizes the risk of false breakouts.
If you found this analysis helpful, don’t forget to like and comment for more insights like this!
The USD/JPY pair has recently broken out of its bearish trend, which was characterized by a series of lower highs and lower lows. This marks a potential shift in market structure and opens up opportunities for both levels of resistance at 149.550 and 150.700.
Key Levels to Watch:
Resistance at 149.550:
If the price moves up to test 149.550, watch for confirmation of a breakout. Look for a wick to the downside after the price touches this level, as this could sweep liquidity and confirm support.
Resistance at 150.700:
If the price breaks through 150.700, do not enter a long position immediately. Wait for the price to retrace back to test this level as a new support zone. Ensure there is a wick to the downside, as false breakouts are common and can lead to losses if traded prematurely.
Final Thoughts:
Patience is key in this scenario. Whether the price interacts with 149.550 or 150.700, wait for confirmation signals, such as wicks or retests, before entering any trades. This cautious approach minimizes the risk of false breakouts.
If you found this analysis helpful, don’t forget to like and comment for more insights like this!
Gurvinder singh
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