USD/JPY1-hour time frame technical analysis next move possible.

This chart represents a USD/JPY (U.S. Dollar / Japanese Yen) 1-hour time frame analysis. The key elements of the chart include:

1. Support and Resistance Levels:

149.294: A lower support level where price could bounce.

150.643: A resistance level that price may break through.

Red Zone (~152.000): A strong supply/resistance area where price may struggle to go higher.



2. Price Action & Prediction:

The price is currently around 149.713 and testing support near 149.294.

The black arrow suggests a bullish scenario, where price is expected to bounce from support and move towards 150.643, potentially reaching the 152.000 resistance zone.



3. Technical Patterns:

A potential breakout setup where price may push higher if it holds above support.

Price previously rejected from the red supply zone (~152.000), meaning it could face resistance again if it reaches there.




This chart suggests a possible buy opportunity around 149.294, with targets at 150.643 and 152.000. However, if price breaks below support, the setup could become invalid.