In recent weeks, USDJPY has been one of the most frustrating pairs to trade.
Since early August, the pair has fluctuated inside a very narrow range between 146.70 and 148.50 — less than 1.5% of movement.
However, such tight consolidations rarely last. They usually precede strong moves, and in my opinion, this breakout is more likely to come to the upside.
Looking at the broader picture:
• The April low around 140 (which also tested September last year’s low) marked a strong structural support.
• From there, the pair began climbing in a constructive way, consistently putting in higher lows on the long-term chart.
• During the current consolidation, we’ve seen two notable bullish reactions: dips slightly below 147.70 were bought aggressively on 14 August and again just two days ago, leaving behind clean bullish pin bars on the daily chart.
Putting these pieces together, my bias is bullish. I expect the current range to eventually resolve higher, with 150.80 as the next major resistance and natural target for bulls.
That being said, the market still needs to confirm this idea:
• Upside acceleration comes with a clear break above 148.50.
• The bullish case would be invalidated by a daily close below 146.50.
As always, patience is key — range markets test our discipline, but they also prepare the ground for the next big move. 🚀
Since early August, the pair has fluctuated inside a very narrow range between 146.70 and 148.50 — less than 1.5% of movement.
However, such tight consolidations rarely last. They usually precede strong moves, and in my opinion, this breakout is more likely to come to the upside.
Looking at the broader picture:
• The April low around 140 (which also tested September last year’s low) marked a strong structural support.
• From there, the pair began climbing in a constructive way, consistently putting in higher lows on the long-term chart.
• During the current consolidation, we’ve seen two notable bullish reactions: dips slightly below 147.70 were bought aggressively on 14 August and again just two days ago, leaving behind clean bullish pin bars on the daily chart.
Putting these pieces together, my bias is bullish. I expect the current range to eventually resolve higher, with 150.80 as the next major resistance and natural target for bulls.
That being said, the market still needs to confirm this idea:
• Upside acceleration comes with a clear break above 148.50.
• The bullish case would be invalidated by a daily close below 146.50.
As always, patience is key — range markets test our discipline, but they also prepare the ground for the next big move. 🚀
🎯 Want More Trading Ideas?
📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎 Join the FREE Crypto Channel
👉 t.me/FanCryptocurrency
📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎 Join the FREE Crypto Channel
👉 t.me/FanCryptocurrency
Powiązane publikacje
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.
🎯 Want More Trading Ideas?
📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎 Join the FREE Crypto Channel
👉 t.me/FanCryptocurrency
📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎 Join the FREE Crypto Channel
👉 t.me/FanCryptocurrency
Powiązane publikacje
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.