Dollar A.S. / Yen JepangPembelian
USDJPY - Potential Reversal and Key Levels to Watch
USDJPY - Potential Reversal and Key Levels to Watch
USDJPY pair is currently trading around 154.60, showing signs of a possible correction after a strong bullish move and today's FOMC decision. The price touched a key resistance zone beginning at around 154.50, which aligns with historical supply levels.
Elliott Wave Structure
The current wave count suggests that we might be nearing the completion of a larger impulsive structure. The five-wave sequence to the upside appears to be reaching exhaustion, indicating that a corrective move (potentially in the form of an ABC pattern) could follow. The completion of Wave (5) near the recent highs reinforces this corrective scenario.
Key Support Levels
On the downside, significant support can be found around the 150.00-152.00 range, where multiple factors come into play:
Strong institutional demand is likely in this zone, as indicated by a large order block.
The 0.618 and 0.764 Fibonacci retracement levels from the previous bullish (beginning in early Dec. 2024) move also converge here, offering further validation for potential buy-side activity.
If the price corrects further, we expect these levels to act as a major buffer against extended downside movement. A break below 150.00, however, could open the door for deeper retracements towards 145.00 and below.
Upside Potential
Should the current consolidation break higher, USD/JPY could aim to retest the critical resistance between 154.50 and 156.00. A clean break above this zone would invalidate the immediate bearish outlook and open the path towards new highs, possibly targeting the 160.00 psychological level.
Momentum & Volume
The VOLD shows a mixed picture, with momentum slowing down but not yet turning decisively bearish. This suggests that the market is at a key inflection point, where further price action will determine the next trend. Bulls need to clear the 156.00 resistance to regain full control, while bears will be watching for a breakdown below 152.00 for confirmation of a deeper correction.
Conclusion
USD/JPY is trading at a critical juncture. The resistance at 154.50-156.00 will be crucial in determining whether we see a continuation of the uptrend or a deeper correction. Traders should watch for a potential pullback to the 154.00-152.00 zone as a key area for possible long entries, while a break below these levels could signal a more pronounced bearish phase. On the upside, a breakout above 156.00 would suggest that the bulls are regaining momentum and aiming for new highs.
USDJPY pair is currently trading around 154.60, showing signs of a possible correction after a strong bullish move and today's FOMC decision. The price touched a key resistance zone beginning at around 154.50, which aligns with historical supply levels.
Elliott Wave Structure
The current wave count suggests that we might be nearing the completion of a larger impulsive structure. The five-wave sequence to the upside appears to be reaching exhaustion, indicating that a corrective move (potentially in the form of an ABC pattern) could follow. The completion of Wave (5) near the recent highs reinforces this corrective scenario.
Key Support Levels
On the downside, significant support can be found around the 150.00-152.00 range, where multiple factors come into play:
Strong institutional demand is likely in this zone, as indicated by a large order block.
The 0.618 and 0.764 Fibonacci retracement levels from the previous bullish (beginning in early Dec. 2024) move also converge here, offering further validation for potential buy-side activity.
If the price corrects further, we expect these levels to act as a major buffer against extended downside movement. A break below 150.00, however, could open the door for deeper retracements towards 145.00 and below.
Upside Potential
Should the current consolidation break higher, USD/JPY could aim to retest the critical resistance between 154.50 and 156.00. A clean break above this zone would invalidate the immediate bearish outlook and open the path towards new highs, possibly targeting the 160.00 psychological level.
Momentum & Volume
The VOLD shows a mixed picture, with momentum slowing down but not yet turning decisively bearish. This suggests that the market is at a key inflection point, where further price action will determine the next trend. Bulls need to clear the 156.00 resistance to regain full control, while bears will be watching for a breakdown below 152.00 for confirmation of a deeper correction.
Conclusion
USD/JPY is trading at a critical juncture. The resistance at 154.50-156.00 will be crucial in determining whether we see a continuation of the uptrend or a deeper correction. Traders should watch for a potential pullback to the 154.00-152.00 zone as a key area for possible long entries, while a break below these levels could signal a more pronounced bearish phase. On the upside, a breakout above 156.00 would suggest that the bulls are regaining momentum and aiming for new highs.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.