Hello guys.
After the sharp drop at the end of July, USD/JPY has been consolidating inside a well-defined range. We’ve now seen two classic liquidity hunts:
This type of price action suggests accumulation of orders before the next expansion.
Currently, price is rebounding from the second liquidity hunt, showing signs of strength. If buyers can hold above the 146.80 range low, we may see continuation toward the 149.04 resistance zone, which is the next liquidity pool above.
Levels to Watch:
Short-term bullish as long as 146.80 holds. A clean break above 148.00 could open the path to 149.04.
After the sharp drop at the end of July, USD/JPY has been consolidating inside a well-defined range. We’ve now seen two classic liquidity hunts:
- Hunt 1 (top of range): Price spiked above resistance, took stops, and quickly rejected.
- Hunt 2 (bottom of range): Price swept liquidity below support before bouncing back inside the range.
This type of price action suggests accumulation of orders before the next expansion.
Currently, price is rebounding from the second liquidity hunt, showing signs of strength. If buyers can hold above the 146.80 range low, we may see continuation toward the 149.04 resistance zone, which is the next liquidity pool above.
Levels to Watch:
- Support: 146.80 (range low)
- Resistance: 148.00 (mid-range resistance)
- Target: 149.04
Short-term bullish as long as 146.80 holds. A clean break above 148.00 could open the path to 149.04.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Telegram channel: t.me/melikatrader94
Forex telegram channel: t.me/melikatrader94GoldForex
Forex telegram channel: t.me/melikatrader94GoldForex
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.