USD/JPY Technical Analysis – February 13, 2025 By Brokerir
Market Overview
The USD/JPY pair has been experiencing a sharp decline, forming a strong downtrend over the past few hours. The price has dropped from a local high near 153.700 to the current level around 153.012. The downward momentum has been consistent, with little sign of immediate recovery. However, certain technical indicators suggest that a potential reversal could be on the horizon.
Key Support and Resistance Levels
• Support: 152.971 (Current intraday support)
• Resistance: 153.345 (Projected retracement level)
The price action suggests that the 152.971 level is acting as a crucial support zone. A bounce from this level could trigger a corrective move toward the 153.345 resistance area, where previous price consolidation occurred.
Technical Indicators & Momentum Analysis
MACD (Moving Average Convergence Divergence)
• The MACD histogram is in the negative zone but is showing signs of contraction, indicating a potential slowdown in bearish momentum.
• The signal line is beginning to turn upward, which may suggest an upcoming bullish crossover.
Price Action & Structure
• The overall structure remains bearish in the short term, but the presence of exhaustion at the current support level hints at a possible corrective retracement.
• The price is currently testing a key demand zone, which has historically acted as a strong support area.
Potential Scenario
If buying pressure increases from the 152.971 support zone, we could see a corrective move toward the 153.345 resistance area. However, if the price fails to hold this support, further downside toward 152.900 and beyond could be expected.
Conclusion
The USD/JPY pair is at a critical juncture. While the immediate trend remains bearish, technical indicators suggest that a potential short-term rebound could be in play. Traders should closely monitor the price action around the 152.971 level and watch for confirmation signals before anticipating a trend reversal.
This analysis is for informational purposes only and does not constitute financial advice.
The USD/JPY pair has been experiencing a sharp decline, forming a strong downtrend over the past few hours. The price has dropped from a local high near 153.700 to the current level around 153.012. The downward momentum has been consistent, with little sign of immediate recovery. However, certain technical indicators suggest that a potential reversal could be on the horizon.
Key Support and Resistance Levels
• Support: 152.971 (Current intraday support)
• Resistance: 153.345 (Projected retracement level)
The price action suggests that the 152.971 level is acting as a crucial support zone. A bounce from this level could trigger a corrective move toward the 153.345 resistance area, where previous price consolidation occurred.
Technical Indicators & Momentum Analysis
MACD (Moving Average Convergence Divergence)
• The MACD histogram is in the negative zone but is showing signs of contraction, indicating a potential slowdown in bearish momentum.
• The signal line is beginning to turn upward, which may suggest an upcoming bullish crossover.
Price Action & Structure
• The overall structure remains bearish in the short term, but the presence of exhaustion at the current support level hints at a possible corrective retracement.
• The price is currently testing a key demand zone, which has historically acted as a strong support area.
Potential Scenario
If buying pressure increases from the 152.971 support zone, we could see a corrective move toward the 153.345 resistance area. However, if the price fails to hold this support, further downside toward 152.900 and beyond could be expected.
Conclusion
The USD/JPY pair is at a critical juncture. While the immediate trend remains bearish, technical indicators suggest that a potential short-term rebound could be in play. Traders should closely monitor the price action around the 152.971 level and watch for confirmation signals before anticipating a trend reversal.
This analysis is for informational purposes only and does not constitute financial advice.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.