USDJPY – Potential Reversal Setup from Key Demand Zone

After several days of consistent bearish momentum, price action on USDJPY has finally tapped into a well-defined demand zone just below 144.40 – an area previously tested with strong bullish reaction.

I’m now anticipating a potential **Change of Character (CHOCH)** as price forms a temporary floor. The rejection wick near 144.10 gives a hint of buyer interest, with confluence from a Fair Value Gap (FVG) and prior liquidity sweep.

📍 **Entry:** Around 144.38
📈 **Target Zones:**
→ First Target: 146.00 (structure retest)
→ Final Target: 148.66 (major liquidity pool and previous high)
❌ **Invalidation:** Break below 143.70

If this move plays out, we could be looking at a solid **Risk-to-Reward above 3:1**. Patience now is key – I’ll wait for a strong bullish engulfing to confirm momentum shift before scaling in.

🧠 *Note:* Fundamentals (Fed tone + JPY weakness) and macro sentiment could serve as accelerators.

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