USDJPY Intraday Analysis 02/04/2025

Technical analysis

1. Overview of Momentum and Market Structure

• Current Momentum: Bearish.
  Previous Day's Performance: Bearish.
  Range: 155.88 – 154.00
  Expectations: Anticipating a bearish continuation within the range, targeting lower liquidity levels.

Trading Plan

Bearish Bias

Strategy:
Watch for price rejections at the following resistance zones:

• 155.40 (H1 Liquidity)

Targets:

• Primary targets: 154.00 (Extreme Liquidity).

• Extended target: 153.70 (Daily Liquidity).

For Longs

Strategy:
Monitor price action at the following support levels for potential reversals:

• 154.00 (H1 Liquidity)

• 153.70 (Daily Liquidity)

Confirmation:
Look for reversal patterns such as bullish engulfing candles or order block formations before entering long positions.

Targets:

• Primary Target: 155.40 (H1 Liquidity).

• Extended Target: 155.88 (Range High).

Summary

• The bias remains bearish within the 155.88 – 154.00 range.

• Short entries are favorable around 155.40, with confirmation from price action.

• Long opportunities may arise near or below 154.00 – 153.70 if signs of exhaustion emerge.

• Use your strict money management rules to manage risks effectively.