USD/JPY Reaches Decades-High Levels Amid Strong Resistance

7月4日

Current Overview:
- Price:161.091
- Time Frame: 4-hour chart

Key Observations:
1. Highest Price in Decades: The price has reached levels not seen since 1989, indicating a significant bullish trend.
2. Strong Resistance Zone: The highlighted green area indicates a strong resistance zone from 1989. The price has recently touched this area and shows signs of potential reversal.
3. Demand Zone: A significant demand zone is marked around 159.820, indicating a possible area where buyers might step in if the price falls to this level.

Trend Analysis:

• Uptrend: The overall trend is bullish, with the price making higher highs and higher lows consistently over the past few months.
  
• Recent Reversal: The price recently touched the highest resistance zone and showed signs of reversing downwards.
  
  Potential Scenarios:
  Bearish Scenario:Immediate Downtrend: If the price continues to fall from the current level of 161.091 and breaks below the support at 159.820, it could signal a stronger bearish trend.
  Further Downside Targets: Should the bearish momentum continue, the next support levels to watch are 157.974, 156.587, and potentially down to 152.854.
  
  Bullish Scenario:
• Support at 159.820: If the price finds support at the 159.820 level and bounces back, it could indicate the continuation of the bullish trend.
  
• Resistance Levels: In this case, the price might aim to retest the recent highs at 162.058 and 163.215.
  
  Key Levels:
  - Pivot Level: 161.091 (current price)
  - Resistance Levels: 162.058, 163.215
  - Support Levels: 159.820, 157.974, 156.587, 155.949, 152.854
  
  Expected Range:
  - Immediate Range: The price is expected to trade between the support at 159.820 and resistance at 162.058 in the short term.
  - Broader Range: A broader range could see the price fluctuating between 157.974 and 163.215, depending on the strength of the current trends and market conditions.
  
  Conclusion:USD/JPY is at a critical juncture, having reached the highest levels in decades. The price action around the strong resistance zone and the subsequent demand zone will be crucial in determining the next direction. Traders should watch for confirmation of a reversal or continuation before making significant trading decisions.
  
  previous idea:
  
  

7月5日

トレード稼働中

the price confirmed bearish trend toward 159.820
especially if the NFP released negative for USD

7月8日

ノート

Still running...