USD/JPY Bullish Reversal AnalysisUSD/JPY Bullish Reversal Analysis 📈💹
🔍 Technical Overview:
The chart illustrates a strong bullish reversal pattern forming on USD/JPY after price reacted from a key support zone at 144.600. This level has held firm multiple times, marked by green arrows, signaling strong buying interest.
📐 Chart Patterns & Structure:
✅ A bullish harmonic pattern (possibly a bullish Bat or Gartley) is completing near the 144.600 zone.
🔄 Multiple rejection wicks and bullish engulfing patterns indicate a potential upside reversal.
🔵 Descending trendlines have been broken, confirming momentum shift.
🔁 Previous resistance turned support (near 145.000) is acting as a possible launchpad for the next move.
🎯 Upside Target:
The projected move targets the resistance zone at 147.698, aligning with previous highs and a significant supply area.
If price breaks above 145.900 convincingly, continuation toward this resistance is expected.
🔻 Downside Risk:
A break below 144.600 would invalidate the bullish setup and expose price to the lower support range near 142.000–143.000.
📊 Conclusion:
USD/JPY is showing signs of bullish reversal from a strong demand zone. If price sustains above 145.000 and breaks the minor consolidation, the pair could rally toward 147.698 🎯.
Bias: Bullish ✅
Support: 144.600
Resistance: 147.698
Long
