USD/JPY - Potential Targets & Outcomes

ieri

Dear Friends,

How I see it:

If price can find enough demand above 148.500, pair might attempt a rally.

Potential Long Targets - reasons indicated.
1) 150.185
2) 150.730
3) 151.173

If strong bearish behavior under 4HR trend persists with
DXY holding under 107.

Potential Short Targets -
1) 148.600
2) 147.324
3) 146.480

Key notes:
Price is currently at a pivot; possible reversal attempts or further decline.
I would only consider any rally a reversal "attempt" - above the 38.20% FIB.
Otherwise, all rallies will just be corrections.
In a bearish environment - SELL THE RALLIES.

Thank you for taking the time to study my analysis.

17 minuti fa

Nota

First possible correction TP's:
TP 1 - 150.000
TP 2 - 150.150
TP 3 - 150.185 as indicated above

10 minuti fa

Nota

Selling pressure should dissipate a little above 149.700.
Remember this is a BEARISH environment, to wait the correction out to sell will be prudent.
If I was forced to buy, I would only consider closer targets within imbalance as indicated on Note!

7 minuti fa

Nota

It might not even make it above 149.700. It does not have to fill the balance today or this week.
Japan has a public holiday today, so New York session will show us more quality and energy.