On the 4-hour timeframe,
USD/JPY has shown a significant breakdown. The current internal structure favors a short-side trade. Looking at the 15-minute timeframe, the currency pair is following a trend line and aligning with the Fibonacci Golden Zone.
There's a strong likelihood of rejection between the range of 148.020 to 148.150. However, there's also a possibility of a breakout leading to a trend reversal, signaling a move towards the long side.
The decision for a short-side trade hinges on how the market reacts at the rejection level. If we observe a rejection, it may present an opportunity for a short-side trade."
USD/JPY has shown a significant breakdown. The current internal structure favors a short-side trade. Looking at the 15-minute timeframe, the currency pair is following a trend line and aligning with the Fibonacci Golden Zone.
There's a strong likelihood of rejection between the range of 148.020 to 148.150. However, there's also a possibility of a breakout leading to a trend reversal, signaling a move towards the long side.
The decision for a short-side trade hinges on how the market reacts at the rejection level. If we observe a rejection, it may present an opportunity for a short-side trade."