USD/JPY (2H chart):
The current price is around 152.97, sitting at the upper resistance zone marked on my chart.
There’s a visible ascending trendline, and the price is currently testing or slightly above that line.
My marked two target points below — likely indicating a bearish correction setup if the trendline breaks.
Here’s the detailed breakdown:
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📉 Bearish Scenario (if price breaks below trendline and 152.50 zone):
1. First Target:
Around 151.65 – 151.70
→ This aligns with my first “target point” label and Ichimoku cloud support.
2. Second Target:
Around 150.30 – 150.50
→ my lower target zone, near the previous consolidation support.
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📈 Bullish Scenario (if resistance breaks and price sustains above 153.00):
Next resistance levels: 153.50 – 153.80, and then 154.20.
Only valid if there’s a strong close above 153.00 with volume.
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🔹 Summary:
Scenario Condition Target 1 Target 2
Bearish Break below 152.50 151.65 150.30
Bullish Break & close above 153.00 153.50 154.20
The current price is around 152.97, sitting at the upper resistance zone marked on my chart.
There’s a visible ascending trendline, and the price is currently testing or slightly above that line.
My marked two target points below — likely indicating a bearish correction setup if the trendline breaks.
Here’s the detailed breakdown:
---
📉 Bearish Scenario (if price breaks below trendline and 152.50 zone):
1. First Target:
Around 151.65 – 151.70
→ This aligns with my first “target point” label and Ichimoku cloud support.
2. Second Target:
Around 150.30 – 150.50
→ my lower target zone, near the previous consolidation support.
---
📈 Bullish Scenario (if resistance breaks and price sustains above 153.00):
Next resistance levels: 153.50 – 153.80, and then 154.20.
Only valid if there’s a strong close above 153.00 with volume.
---
🔹 Summary:
Scenario Condition Target 1 Target 2
Bearish Break below 152.50 151.65 150.30
Bullish Break & close above 153.00 153.50 154.20
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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.