JPY/USD Price Action & Trade Setup
Market Structure & Trend:
The chart illustrates JPY/USD on the 4-hour timeframe, showing a rising channel pattern.
Price has recently rejected from resistance near 0.0068058 and is now showing signs of a bearish move.
Trade Setup:
Bearish bias: The pair is breaking down from the channel, indicating a potential trend reversal.
Key levels:
Resistance: 0.0068058
Support Zone: 0.0064368 (Target area)
Potential Move: A continuation of this bearish movement may lead to a drop toward the support zone.
Conclusion:
If the price sustains below the midline of the channel, further downside is likely.
A retest of support at 0.0064368 could offer potential opportunities for either a bounce or a continuation of the bearish trend.
📌 What’s next? Watch for price action near the support zone for potential trade setups.
