IN D1 TIME FRAME USDJPY STRONG LOOK BULLISH

The USDJPY currency pair is currently encountering significant resistance within key supply zones, marking crucial levels where sellers are exerting notable influence on price movements. The primary supply zone is established near the level of 154.500, acting as a formidable barrier against further upside momentum. This zone indicates an area where sellers are likely to be more aggressive in initiating selling positions, potentially leading to a reversal or a temporary halt in upward price movement.

Further overhead, a strong supply level is identified at 158.000, representing a pivotal point where selling pressure intensifies significantly. This level serves as a major psychological barrier, often attracting selling interest from market participants looking to capitalize on potential price retracements or reversals.

At 161.000, another significant supply zone emerges, signaling the presence of persistent selling pressure and reinforcing the overarching bearish sentiment in the market. This level adds an additional layer of resistance, suggesting that buyers face considerable challenges in pushing prices higher beyond this point.

Traders closely monitor these supply zones as they represent strategic areas where selling interest is likely to outweigh buying activity, potentially leading to downward price movements or consolidations. The clustering of supply levels in close proximity underscores the strength of the bearish thesis for the USDJPY pair.

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