USDJPY Trade Setup – Bulls Eyeing a Breakout?

USDJPY is showing signs of strength near a key demand zone (142.800 – 143.100), holding above it for several sessions. Price is currently flirting with the 143.116 resistance. A clean break and retest of this level could spark bullish momentum.

Key Levels to Watch:

Support/Demand Zone: 142.800 – 143.100 (highlighted in orange)

Resistance 1: 143.116 (current key level to break)

Resistance 2: 146.331

Major Supply Zone: 149.000 – 150.000 (highlighted in blue, heavy selling area)


Bullish Scenario:

Break and retest of 143.116 could open the door to 146.331, then potentially 149.501.

Arrows indicate the next bullish targets if momentum picks up.


Bearish Scenario:

Failure to hold the demand zone may result in a retest of 142.000 or lower.

Watch for bearish engulfing candles around 143.116 if bulls get rejected.


Technical Insight: This chart includes the LuxAlgo Supply and Demand indicator, clearly marking areas of institutional interest. Price is currently resting in a high-interest demand zone, and we may see a breakout if buyers gain control.


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Trade Idea: Wait for confirmation above 143.116 with strong bullish volume. If confirmed, consider long positions targeting 146.3 and 149.5. Always manage risk!


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What do you think? Will the bulls break out or will bears take over again? Drop your thoughts below!

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