USDJPY / Sustained Bullish Momentum with Key Support at 157.97

20 thg 6

USD/JPY 4-Hour Chart Analysis

• Trend Analysis:
  - The 4-hour chart exhibits a prevailing uptrend, characterized by higher highs and higher lows, signifying sustained bullish momentum.
  - Recently, the price has encountered some volatility but continues to hold above critical support levels.
  
  
• Bullish Scenario:
  - As long as the price trades above 157.97, the bullish trend is expected to persist, targeting 159.82. A possible retest of the 157.97 level may occur, followed by a renewed upward push.
  
  
• Bearish Scenario:
  - For a bearish shift, the price must breach the support line at 157.97, potentially targeting 157.38.
  
  
• Key Levels:
  - Pivot Line: 157.975
  - Resistance Levels: 159.200, 159.820, 161.700
  - Support Levels: 157.390, 156.590, 155.950
  
  
• Conclusion:
  The USD/JPY 4-hour chart indicates a strong bullish trend with ongoing upward momentum. It is advisable to consider long positions, aiming for the resistance levels at 159.82. While monitoring for potential consolidation or pullbacks is essential, the bullish trend remains the preferred direction at this time.

21 thg 6

Ghi chú

The price has surged by approximately 120 pips and is currently advancing towards 159.820. A break above this level is necessary to sustain the bullish trend. However, if the price stabilizes below 159.820, it is likely to experience a strong correction, potentially dropping to 159.100 and 158.250.

2 thg 7

Ghi chú

the price pushed up perfectly and reached the strong resistance which is about 350 pip

Now it is possible to drop to 160.780 and 159.820
then should break that to continue the bearish trend but otherwise stability above 161.820 means will get more bullish movement