USDJPY Intraday Analysis 02/10/2025

Technical analysis

1. Overview of Momentum and Market Structure

• Current Momentum: Bullish.
  Previous Day's Performance: Bullish Pin Bar.
  Range: 150.92 – 152.42
  Expectations: Anticipating a bearish move within the range, targeting lower liquidity levels.

Trading Plan

Bullish Bias

Strategy:
Watch for price reactions at the following support levels for potential long entries:

• 151.19 (H1 Liquidity).

• 150.92 (Extreme Liquidity).

Targets:

• Primary targets: 152.42 (Extreme Liquidity) and 152.89 (External Liquidity).

• Extended target: 153.70 (Weekly FVG) and 154.16 (Daily FVG).

For Shorts

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

• 151.19 (H1 Liquidity).

• 150.92 (Extreme Liquidity).

• 1.2466 (H1 Liquidity).

Confirmation:
Look for reversal patterns such as bearish engulfing candles or order block formations in lower time frame (M15/M30) before entering short positions.

Targets:

• Primary Target: 1.2375 (H1 Liquidity) and 1.2359 (H1 Liquidity).

• Extended Target: 1.2322 (H4 FVG), 1.2287 (H4 FVG).

Summary

• The bias remains bearish within the 1.2491 – 1.2375 range.

• Short entries are favorable around 1.2427 – 1.2466 with confirmation from price action.

• Long opportunities may arise near or below 1.2322 – 1.2287 if signs of exhaustion emerge.

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