USD/JPY Bullish Reversal Setup — Support Bounce & Upside Targets

Support Level: Clearly marked near 143.245–142.706. Price is currently reacting around this zone.

Current Price: ~143.838, just above the support area.

Indicators:

EMA 50 (red) and EMA 200 (blue) are above the current price — showing that the short-term trend is bearish, but price is testing strong support.

RSI: Around 35.95, indicating the pair is near oversold territory — suggesting potential for a bounce.

Projected Move:

The chart illustrates a bullish reversal scenario:

Price is expected to bounce from the support level.

First Target: ~145.797 (next significant resistance / supply area).

Second Target: ~147.736, a higher resistance level if the bullish momentum continues.

Bias:

Short-term bullish bias as long as the support holds.

A confirmed bounce (strong bullish candles or price closing above EMAs) would strengthen the case for the move up.

If the support breaks, the bullish scenario is invalidated, and further downside may occur.

Summary:

Setup: Potential reversal from a well-defined support zone.

Conditions: RSI near oversold, possible mean reversion up to EMAs.

Targets: 145.797 and 147.736.