USDJPY — Range Floor + Trend Support = Confluence 🟦📈

[theSignalyst]

USDJPY remains overall bullish within a rising channel, while price has been ranging between a lower demand band and the upper supply. We’re now dipping into the 146.0–146.7 support area, which aligns with the channel’s lower boundary — a classic confluence zone to hunt for longs.

Key levels

Support: 146.0–146.7 (range floor + channel support)

Resistance: 149.8–151.0 (range top / supply)

Scenarios

Bullish : Look for a higher-low / bullish candle from 146s → path toward 149.8–151.0.

Bearish : Daily close below 146.0 would invalidate the setup and open a deeper pullback before buyers try again.

Do you buy the retest into the 146s, or wait for momentum to kick in first?

️ Disclaimer: This is not financial advice. Always do your own research and manage risk properly.

Stick to your trading plan regarding entries, risk, and management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Richard Nasr