USDJPY – Guide, Tips & Insights | Learn 2 Trade – Guide, Tips & Insights | Learn 2 Trade has halted its previous downward trajectory and is now moving sideways. The key resistance level at 148.000 has repeatedly capped upward moves, even as the pair consistently forms higher lows. This price behavior has led to the emergence of an ascending triangle pattern on the daily chart, indicating potential consolidation before a breakout.
The Average Directional Index (ADX) currently reads below 20, confirming the absence of a strong directional trend in the daily timeframe. This range-bound condition aligns with the MACD (Moving Average Convergence and Divergence), which has been oscillating around the zero line since mid-May.
The previous downward trend concluded at 140.280—a significant support zone that also marked the origin of the bullish trend in September last year. The repeated defense of this level underscores its strategic importance to market participants.
On the lower timeframes, a well-defined bearish structure is in play. However, this trend faces a potential reversal as the ascending triangle’s bullish trendline provides support. A clear breakout and retest of this formation could offer high-probability setups for short positions. This would present opportunities to generate the best forex signals.
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USDJPY – Guide, Tips & Insights | Learn 2 Trade – Guide, Tips & Insights | Learn 2 Trade Short-term Trend: Ranging
