FX.co ★ zunaira7518 | USD/JPY

USD JPY Analysis 4H View

On the 4-H chart, USD JPY had a clean uptrend from 157.75 to 159.16, riding above the 20EMA the whole way. It tagged 159.16 at the upper BB, got rejected, and is now sitting at 158.85 on the 20EMA at 158.94. Support 158.40 is immediate support. Lose that and 157.75 is next. Resistance 159.16 is the big resistance at the upper BB. Then 159.50. Until we close above 159.16, rallies are for selling. Trend is still up as long as price holds above 158.40. On One Hour

On the 1H, USDJPY ran from 157.75 up to 159.12, hit the upper Bollinger Band, and got rejected. Price is now at 158.85, sitting right on the 20 EMA at 158.93 and just above the middle BB. The BB is squeezing tight which means a move is coming soon. The break below 158.75 is the key move here. If that fails, we retest 158.40. Reclaim 158.93 and we can squeeze back to 159.12. Support158.75 is immediate support at the middle BB. Lose that and 158.40 is next. Resistance 158.93 is the 20EMA and first resistance. Then 159.12, then 159.16. Until we close above 158.93, rallies are for selling. Trend Still bullish since 157.75, but momentum cooled after the rejection at 159.12. Price is hugging the 20EMA now 15m Time fram

Drop to the 15m and you see the weakness. USD JPY hit 159.10, got rejected at the upper BB, and has been making lower highs since. Price is now 158.85, sitting right on the 20EMA at 158.86 and under the middle BB. Support: 158.80 is immediate support. Lose that and 158.40 is next. Resistance 158.86 is the 20 EMA and first resistance. Then 159.10. Until we reclaim 158.86, shorts are in control short term. Momentum is flat to bearish short term with lower highs since 159.10. My plan 4H says buy dips until 158.40 breaks. 15m says don’t long until 158.86 breaks. I’m watching 158.40 - if it holds, longs target 159.16 with a stop below 157.75. If 158.40 breaks, we could see a pullback to 157.75. For shorts, I only flip bearish if we lose 158.40 on the 4-H close. Until then, bias is to buy dips toward 158.40. USD JPY moves fast on BoJ and Fed headlines, so keep stops tight. This level is key for the next leg up.