From TradingView · · 40s
USDJPY 22/10: Alternative bullish scenario
USDJPY could rise as false breakdown triggers recovery near 156.530.
In brief
USDJPY could rise as false breakdown triggers recovery near 156.530. USDJPY may rebound after false breakdown below 156.500 with target at 160.215. Originally reported by TradingView.
USDJPY alternative scenario
USDJPY approaches support at 156.530 with false breakdown potential.
Defensive demand supports yen
Yen strength persists despite dollar resilience from technology stock retreats.
Bank of Japan rate expectations
Bank of Japan tightening expectations boost yen as inflation comments delay policy.
Trading setup for USDJPY
BUY at 156.530 with SL 155.355 and TP 160.215 if support holds.
The takeaway
USDJPY may rebound after false breakdown below 156.500 with target at 160.215.
