UsdJpy could break 142 and fall 500 pips

2 Jun

Since early May, I’ve been highlighting the 142 support zone on USDJPY as a potential reversal area — with a suggested upside target at 146.

The market respected this level twice, reversing from 142 and rallying past 146 both times.

However, last week’s move into 146 was sharply rejected, forming a strong daily Pin Bar exactly at resistance — a classic sign of exhaustion.

Now, price is rolling back toward support, and after multiple tests of the 142 zone, we may be very close to a downside break.

🧩 Add to this the fact that DXY also looks ready to break lower, and the probability of a USDJPY fall increases even more.

📉 Trading Plan:
Sell rallies, with invalidation above 146, and a target at 137, aiming for a 1:2 risk-reward setup.

Disclosure: I am part of TradeNation's Influencer program and receive a monthly fee for using their TradingView charts in my analyses and educational articles.

3 Jun

Dagangan aktif

Usdjpy rose around 144.
As I explained, my strategy is to sell rallies