USDJPY – Bullish Correction in Progress | H1 Chart Analysis

After a long bearish impulse, USDJPY has completed a double-bottom structure near 0.00659. The market has since broken the previous short-term downtrend line and is forming a higher low — suggesting a possible start of a bullish correction.
- Technical Setup:
Entry Zone: 0.00660 – 0.00659
Target (TP): 0.00668
Stop Loss: 0.00659
Risk-to-Reward: ≈ 1 : 3

- Outlook:
Price action shows a clear CHoCH (Change of Character) and early bullish momentum. A confirmed rejection from the highlighted demand zone could signal continuation toward short-term resistance at 0.00668 – 0.00670.
Traders should monitor liquidity around the neckline before entering new longs.