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Market Analysis – September 14
USDJPY retreats into the Fair Value Gap. The market analysis for USDJPY suggests a positive outlook in both the long and short term. The price has been consistently rising since late February, with minimal pullbacks.
USDJPY KEY LEVELS
Demand Levels: 145.000, 137.100, 130.00
Supply Levels: 151.800, 155.100, 160.000
Long-Term Trend: Bullish
Since late February, the USDJPY price has experienced a break in market structure, turning bullish. The price quickly increased after retracing to the demand zone in late March, leaving little room for pullbacks until mid-July. The price has surpassed the 145.000 mark, creating a higher high and maintaining the upward trend. The consolidation over the 145.000 mark further strengthened the price’s ascent.
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The price’s position above the moving average and the formation of a higher high contribute to the confluence, indicating a strong trend. The current positioning suggests that the price is preparing to reach the supply mark at 151.800, where liquidity is expected.
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The consistent rise since late February, coupled with minimal pullbacks, suggests a strong bullish trend. 151.800 and 155.100 supply levels should be observed.
Short-Term Trend: Bullish
In order to close the Fair Value Gap (FVG), the price has formed a higher high and is currently retracing. This retracement allows for the seizing of liquidity, generating momentum for the upcoming upward movement. The price’s retreat into the Fair Value Gap indicates a short-term strategy to take advantage of liquidity before continuing its upward trajectory.
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The convergence of the price above the moving average further supports potential price movements. It is important to note that prior to any market trend manipulation, the price should aim for the supply mark at 151.800.
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