JPYUSD Technical Analysis | (MMC) in Play + Target

🟦 1. Structure & Price Action Overview
The chart is of JPY/USD on the 2-hour timeframe, showing a clear picture of price movement over several weeks.

We see three major market phases:

Range/Resistance Phase (Left side of chart)

Uptrend Phase (Middle – rising channel)

Reversal Setup (Right side – potential bearish move forming)

📈 2. Uptrend Channel (Accumulation to Expansion Phase)
From around May 13th, price started forming higher highs and higher lows, respecting a bullish channel (light blue shaded area).

This is a classic ascending channel, often seen during a controlled uptrend where buyers are still in control but momentum is slowing.

The channel took price directly into the resistance zone (marked in purple at the top).

🚫 3. Resistance Zone Rejection (Key Supply Zone)
Once price hit the resistance zone (~0.00705), it failed to break higher.

This level had previously caused sharp drops, so it's a well-established supply zone.

Price was rejected and dropped sharply, breaking out of the ascending channel – a strong bearish signal.

🔄 4. Mirror Market Concept (MMC) – Curve Bending Pattern
After the initial drop, price attempted a bounce, but couldn't even reach previous highs.

The curved arrow labeled "Curve Bending" shows how the market is “bending” its momentum – not pushing upward anymore but turning into a reversal.

This forms the mirror of the previous rise – indicating the market is ready to “mirror” that previous bullish leg, but to the downside.

🔄 5. SR Interchange (Support Flipped Resistance)
The previous demand zone (around 0.006950–0.007000), where buyers pushed price higher during the uptrend, is now acting as resistance.

This is called an SR Flip (Support becomes Resistance) – a very reliable technical sign of trend reversal.

🎯 6. Bearish Target Projection
Based on MMC and symmetry of past movements, the chart is projecting a strong drop toward the 0.006800 support zone.

This zone is also historically significant and acted as a demand area earlier.

The black arrow and target box show this expected move, which aligns with the mirror structure.

🧩 Conclusion & Trade Plan
Bias: Strong Bearish

Confirmation: Channel break + rejection at resistance + curve bending

Trigger: Price fails to reclaim 0.00700 and breaks below 0.006930

Target: 0.006800

Invalidation: Clean break & hold above 0.007050

🛡️ Pro Tips:
Don’t just jump in — wait for bearish confirmation (like a bearish engulfing candle, or a failed retest).

Always set your SL (Stop Loss) above the resistance zone (~0.007050).

Let the setup come to you — don’t force trades.