USDJPY Retests Major Demand Zone of 142.00
Login

USDJPY Retests Major Demand Zone of 142.00

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Market Analysis – September 9

The USDJPY market underwent a significant bearish shift after breaking its long-standing ascending trendline in July. This shift has pushed the price steadily lower, bringing it down to the critical demand level of 142.00. Despite a brief recovery off this zone, the price has retraced and is once again testing this key level, which suggests growing pressure on the support.

USDJPY Key Levels

  • Demand: 142.00, 137.00, 133.80
  • Supply: 151.90, 155.40, 160.30

USDJPY Retests Major Demand Zone of 142.00 USDJPY Long-Term Trend: Bearish

The bearish outlook solidified in July, as the Machine Learning Lorentizan Classification indicator confirmed a short signal following the break of the bullish trendline, marking a clear shift in market momentum. This break was followed by the formation of a bearish order block at 155.40, which further intensified selling pressure. The USDJPY price subsequently fell rapidly toward the 142.00 demand zone without any significant retracement or pause along the way.

Upon reaching this demand level, the Williams Percent Range indicator flagged an oversold market condition, which led to a temporary price rebound. However, this recovery was short-lived, as a lower high formed, indicating weakness in bullish momentum. The price has since slumped back to the key demand zone at 142.00, setting up another crucial test.

USDJPY Retests Major Demand Zone of 142.00USDJPY Short-Term Trend: Bearish

In the short term, bulls have been actively defending the 142.00 demand zone, but the repeated retests of this level have made it more susceptible to potential invalidation. A decisive move below this zone could accelerate further downside, potentially targeting lower demand levels at 137.00 and 133.80 for forex signals. A sustained defence might offer a near-term rebound. However, continued pressure could weigh on the bulls’ ability to maintain control over this critical support.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News