FX.co ★ Physicist | USD/JPY

Based on the USDJPY M30 chart, price is currently trading near 156.976 after a strong bullish rally from the 154.545 low up to the 157.295 high, followed by a slight pullback to current levels. The sequence shows a clear bullish reversal with higher highs (157.295 → 156.983 → 156.976) and higher lows, confirming a bullish market structure. Key resistance is layered above: 157.295 (the recent swing high and immediate ceiling), with the stronger ceiling at 157.500. The current price at 156.976 is just below the 157.295 resistance, indicating selling pressure near that zone. On the support side, 156.545 is the first line of defense, followed by 156.295, 156.045, and the major swing low at 154.545. The overall bias remains bullish as long as price stays above 156.295, and any pullback toward that zone is likely to attract buyers. Given this structure, a buy zone is recommended between 156.500 and 156.800, ideally near 156.600–156.700 (just above the 156.545 support). Place a stop loss below 156.200 (below the 156.295 level). The first target is 157.295 (immediate resistance), followed by 157.500, and if upside momentum resumes, 157.800 and 158.000. This trade offers a favorable risk‑reward if price holds the support zone. Conversely, a sell zone is identified near 157.250–157.400, just below the key resistance at 157.295. An ideal short entry would be around 157.300 with a stop loss above 157.550. Targets are 156.976 (first support), then 156.545 and 156.295. However, given the dominant uptrend, short trades are high‑risk and should only be considered if a bearish reversal pattern (e.g., shooting star or engulfing candle) forms at 157.295, or if price breaks below 156.545 with strong momentum, which would signal a potential trend reversal. In summary, the USDJPY M30 chart remains bullish with support at 156.545–156.295 and resistance at 157.295–157.500. The current price near 156.976 is hovering just below resistance; a break above 157.295 would open the door to 157.500–157.800. A break below 156.500 would invalidate the buy zone and signal further downside toward 156.295–156.045. For the coming sessions, favour buying on pullbacks to the 156.500–156.800 zone, with tight stops, and avoid chasing shorts unless price shows clear weakness below 156.545. Always monitor the M30 candle closes for confirmation and use proper stop‑loss management, as the yen can be volatile on this timeframe.