USDJPY (10W) High Timeframe Analysis

Position Trader's Opportunity
The USDJPY pair is currently trending upwards in the long-term. However, in the short-term, we're seeing potential for a downward correction towards the significant support level of 134.51.

Key Levels to Watch:

• PIVOT HIGH @ 204.75
  
• SLO2 @ 198.36 ⏳Resistance, major
  
• SLO1 @ 185.44 ⏳
  
• TP4 @ 178.91
  
• TP3 @ 155.40
  
• TP2 @ 140.15
  
• Support, major @ 134.51
  
• TP1 @ 118.20
  
• Pivot Low @ 75.565
  

Trading Strategy:

• A cautious approach is recommended.
  
• While the long-term trend remains bullish, it's crucial to be aware of the potential for a short-term pullback.
  
• 📈Holding a long position above 185.44 is HIGH-RISK (the Supply Zone).
  
• 📉If the price breaks and closes below 152.16, it could signal a stronger downward trend.
  
• 📉 During the downtrend expect the possibility of Price Action reaching Support @ 1.3451