USD/JPY Analysis: Bullish Momentum Awaits Key Confirmation
USD/JPY Analysis
The overall trend remains bullish, but confirmation of the bullish scenario requires a 4-hour candle close above 157.980. If this occurs, the price is likely to target 159.820 and 161.820.
On the other hand, if a 4-hour candle closes below 156.580, it signals a potential drop toward 153.980. A further break below this level could see the price decline to 151.780.
Stability above 157.980 will reinforce the bullish momentum, with targets at 159.820 and 161.820.
Key Levels:
Pivot Line: 156.590
Resistance Levels: 159.40, 161.82, 163.20
Support Levels: 154.64, 153.43, 151.790
Trend Outlook
Bullish: Above 157.980
Bearish: Below 156.580
Consolidation: Between 156.45 and 157.98
previous idea:
The overall trend remains bullish, but confirmation of the bullish scenario requires a 4-hour candle close above 157.980. If this occurs, the price is likely to target 159.820 and 161.820.
On the other hand, if a 4-hour candle closes below 156.580, it signals a potential drop toward 153.980. A further break below this level could see the price decline to 151.780.
Stability above 157.980 will reinforce the bullish momentum, with targets at 159.820 and 161.820.
Key Levels:
Pivot Line: 156.590
Resistance Levels: 159.40, 161.82, 163.20
Support Levels: 154.64, 153.43, 151.790
Trend Outlook
Bullish: Above 157.980
Bearish: Below 156.580
Consolidation: Between 156.45 and 157.98
previous idea:
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