USD/JPY Analysis: Anticipating a New Bullish Impulse

Aug 1

USD/JPY, after retesting the demand area around $149.000, shows potential for initiating a new bullish impulse. This technical retest suggests the possibility of a fresh upward leg in the pair's price movement.

By examining the Commitment of Traders (COT) report, we notice significant bullish sentiment among large traders, indicating support for a long position in USD/JPY. This aligns with our supply and demand analysis, which identifies the $149.000 level as a crucial demand zone where buying interest has emerged, providing a solid base for the price to move higher.

Seasonality trends also favor this bullish outlook. Historically, this period tends to see strength in USD/JPY, adding confidence to our expectation of a new long setup. The combination of the retest of the demand zone, positive COT positioning, and favorable seasonality trends reinforces our anticipation of a bullish continuation.

We are closely monitoring the price action and are prepared to enter a long position, expecting further gains from the current levels. This comprehensive approach, considering technical, sentiment, and seasonal factors, supports our strategy for a bullish setup in USD/JPY.


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