From TradingView · · 40s
USDJPY Technical Analysis for Sellers
USDJPY nears key sell zone as technical indicators suggest bearish move.
In brief
USDJPY nears key sell zone as technical indicators suggest bearish move. USDJPY approaches 158.00-158.30 supply zone where sellers could re-enter. Originally reported by TradingView.
USDJPY Technical Setup
USDJPY approaches upper bound of falling wedge pattern with sellers maintaining control.
Key Technical Area
Price nears 158.00-158.30 supply zone where selling pressure has previously emerged.
Resistance and Supply
Upper red trendline acts as dynamic resistance intersecting with strong blue supply zone.
Bullish Correction
Recent upward movement developing within smaller rising structure suggests temporary bullish shift.
Bearish Scenario
If intersection holds, bearish trend continues with potential for downward wave toward wedge lows.
Here's the gist
USDJPY approaches 158.00-158.30 supply zone where sellers could re-enter.
