USD/JPY 15-Minute Chart AnalysisKey Observations:
1. Trendline Break:
- The price broke the ascending trendline, indicating a potential shift in momentum.
2. Support Zone:
- The price is hovering around a key support area (156.500–156.650). If this zone fails, we could see further downside movement.
3. Bearish Setup:
- A bearish view can be taken with the stop-loss around 156.900 to 156.940 and the target near 154.03.
- This gives a favorable risk-to-reward ratio if the setup plays out.
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Trading Scenarios:
1. Bearish Continuation:
- If the price breaks below 156.500, it could confirm the bearish move towards 154.03.
- Watch for bearish momentum and volume to support the move.
2. Rejection and Reversal:
- If the support zone holds, the price might retest the resistance near 156.940 or higher, invalidating the bearish setup.
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Patience is key here; wait for clear confirmation of the breakout or rejection.
Disclaimer:
This analysis is for informational purposes only and does not constitute financial advice. Trading involves substantial risk, and past performance is not indicative of future results. Always conduct your own research and consult a financial advisor before making investment decisions. Trade responsibly. Happy Trading
