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USD/JPY Daily & H4 Analysis: Sell Setup Near Strong Supply Zone
On the Daily timeframe, USD/JPY is currently trading near a strong Supply zone around 149.50 - 150.00, which has previously acted as a significant resistance level. This area is historically known for providing strong selling pressure, making it a potential zone to watch for bearish opportunities.
Technical Insights:
Daily Supply Zone: Price is testing a critical supply area, indicating that the upward momentum may be stalling as it approaches this resistance. The previous interactions with this zone have resulted in price rejections.
Bearish Divergence on H4: On the H4 timeframe, the Awesome Oscillator (AO) is showing bearish divergence. While price has been making higher highs, the AO is printing lower highs, signaling weakening buying momentum and increasing chances of a reversal.
Trade Plan:
Entry: Look for a bearish reversal pattern (e.g., bearish engulfing, pin bar) on lower timeframes (H4 or H1) to confirm entry. Ideally, wait for a strong rejection from the supply zone.
Stop Loss: Above the 150.00 level, just beyond the supply zone, to minimize risk from potential false breakouts.
Target: Initial target around 148.00, with potential to extend toward 147.00 if momentum continues in favor of sellers.
This setup aligns with both technical signals and price action, offering a good opportunity to short the pair if the conditions are met.
USDJPY USDJPY USDJPY
Technical Insights:
Daily Supply Zone: Price is testing a critical supply area, indicating that the upward momentum may be stalling as it approaches this resistance. The previous interactions with this zone have resulted in price rejections.
Bearish Divergence on H4: On the H4 timeframe, the Awesome Oscillator (AO) is showing bearish divergence. While price has been making higher highs, the AO is printing lower highs, signaling weakening buying momentum and increasing chances of a reversal.
Trade Plan:
Entry: Look for a bearish reversal pattern (e.g., bearish engulfing, pin bar) on lower timeframes (H4 or H1) to confirm entry. Ideally, wait for a strong rejection from the supply zone.
Stop Loss: Above the 150.00 level, just beyond the supply zone, to minimize risk from potential false breakouts.
Target: Initial target around 148.00, with potential to extend toward 147.00 if momentum continues in favor of sellers.
This setup aligns with both technical signals and price action, offering a good opportunity to short the pair if the conditions are met.
USDJPY USDJPY USDJPY 
Penafian
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