USD/JPY Intraday Analysis – October 2, 2025

The USD/JPY pair is currently trading at 0.0067970 on the 1-hour chart, showing signs of a bullish continuation within the upward channel. After a strong recovery from the 0.0066800 support area, price is approaching the upper trendline, suggesting the market may be preparing for a corrective wave before resuming its uptrend.


Technical Overview:
Trend: Short-term bullish, confirmed by a clear ascending channel.

Support Levels:
0.0067800 – immediate support at the lower trendline of the channel.
0.0067600 – mid-term support near recent consolidation.
0.0067400 – deeper support if price breaks below the channel.

Resistance Levels:
0.0068200 – near-term resistance at the previous swing high (Point A).
0.0068400 – upper channel trendline resistance.
0.0068600 – potential target for wave C if bullish momentum continues.

Chart Pattern & Wave Analysis:
Based on the current movement, the price appears to be forming an ABC corrective structure:
Wave A: recent upward move to 0.0068200.
Wave B: expected short-term pullback toward the lower channel boundary near 0.0067800.
Wave C: projected continuation of the uptrend toward 0.0068600 if channel support holds.

Trading Strategy:
Long Opportunity: Consider entering near 0.0067800–0.0067850 after confirming support and bullish price action. Target 0.0068400–0.0068600 with a stop loss below 0.0067700.
Short Opportunity: Only consider if price breaks below the channel convincingly, targeting 0.0067600–0.0067400, but this remains secondary as the overall trend is bullish.

Indicators:
EMA: Price above the short-term EMA confirms bullish momentum.
RSI: Approaching 60–70, watch for overbought conditions near the upper trendline.

- Summary: USD/JPY is trending upward in a defined channel. Traders should watch for a small pullback (Wave B) as an optimal entry for continuation toward Wave C. Always respect risk management and confirm support before entering long positions.
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