Consolidation Phase:Key Levels and Scenarios for Market Movement

Trend Analysis Summary

Market Consolidation and Key Levels:
The price recently reached the resistance line and corrected down to the support line at 158.800. Currently, it is expected to consolidate between 159.820 and 158.800 until a breakout occurs. Stability below the support zone (159.100 - 158.800) suggests a potential drop to 157.970.

  • Bullish Scenario:
    For the bullish trend to continue, the price must break above 159.820 and close a 4-hour candle above this level, aiming for a target of 161.700.

  • Bearish Scenario:
    As long as the price trades below 159.820, it may attempt to drop again to gather bullish momentum. Stability below 158.800 could lead to a decline toward 157.970.

  • Key Levels:
    - Pivot Line: 159.820
    - Resistance Levels: 160.500, 161.300, 161.850
    - Support Levels: 159.220, 158.800, 157.980

  • Summary:
    The market is in a consolidation phase between 159.820 and 158.800. A break above 159.820 signals a bullish continuation toward 161.700, while stability below 158.800 indicates a potential drop to 157.970.

    previous idea:
    USDJPY / Sustained Bullish Momentum with Key Support at 157.97
jpySupply and DemandSupport and ResistancetrendTrend AnalysisUSDUSDJPY

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