USDJPY is eyeing a bearish reversal on the 4-hour chart, with price approaching a key resistance zone near cumulative short liquidation, converging with a downward trendline touch and a potential entry area that could trigger downside momentum if sellers break the ongoing consolidation. This setup suggests a pullback opportunity amid the recent rally, targeting lower support levels with favorable risk-reward exceeding 1:3.🔥Entry between 155.78–155.94 for a short position🎯. Targets at 155 (first), 154.57 (second). Set a stop loss at a daily close above 156.165📊, yielding a risk-reward ratio of more than 1:3. Monitor for confirmation via a bearish candle close below entry with rising volume, leveraging yen's persistent weakness.🌟
Fundamentally, USD/JPY faces a packed week with U.S. payrolls, key Fed speakers and a pivotal BoJ meeting all on tap. The BoJ is expected to potentially hike rates this week, with market seeing a rise in USD/JPY as anticipation builds. On the USD side, the Bureau of Labor Statistics released a highly mixed employment report on Tuesday, offering markets both reassurance and renewed concern, deepening Fed's focus on labor risks. Weak US data has pressured the Dollar, keeping DXY near 98.30, which could influence the pair further. 💡
📝 Trade Setup
🎯 Entry (Short):
155.78 – 155.94
🎯 Targets:
• 155.00 (first)
• 154.57 (second)
❌ Stop Loss:
• Daily close above 156.165
⚖️ Risk-to-Reward:
• > 1:3 overall
💡 Your view?
Will USDJPY reject this resistance for a deeper pullback toward 154.57 — or does momentum push it into another upside extension? 👇
Trade attivo
Trade was activated!Trade chiuso: stop raggiunto
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Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.