EUR/JPY Key Supply Zone Holding – Bearish Rejection in Play
Chart Analysis & Trade Setup:
The EUR/JPY 45-minute chart highlights a strong supply zone near 157.50 - 157.60, where price has repeatedly rejected, leading to multiple sell-offs. This zone remains a critical resistance area for further downside movement.
Technical Breakdown:
📌 Key Supply Zone (157.50 - 157.60): Price has attempted to break above but faced strong rejection, confirming sellers' dominance.
📉 Bearish Price Action: Each rejection from the supply zone has resulted in a decline towards key support levels.
🔄 Liquidity Grab & Drop: A fake-out above 157.50 led to a sharp reversal, suggesting a distribution phase.
Trade Plan:
✅ Entry: Consider a short position on a retest of 156.50 - 157.00, if price fails to reclaim higher levels.
🎯 Target 1: 156.00 (Recent support level).
🎯 Target 2: 155.70 - 155.50 (Stronger demand zone).
🛑 Stop Loss: Above 157.65, as a breakout above this level would invalidate the bearish setup.
The EUR/JPY 45-minute chart highlights a strong supply zone near 157.50 - 157.60, where price has repeatedly rejected, leading to multiple sell-offs. This zone remains a critical resistance area for further downside movement.
Technical Breakdown:
📌 Key Supply Zone (157.50 - 157.60): Price has attempted to break above but faced strong rejection, confirming sellers' dominance.
📉 Bearish Price Action: Each rejection from the supply zone has resulted in a decline towards key support levels.
🔄 Liquidity Grab & Drop: A fake-out above 157.50 led to a sharp reversal, suggesting a distribution phase.
Trade Plan:
✅ Entry: Consider a short position on a retest of 156.50 - 157.00, if price fails to reclaim higher levels.
🎯 Target 1: 156.00 (Recent support level).
🎯 Target 2: 155.70 - 155.50 (Stronger demand zone).
🛑 Stop Loss: Above 157.65, as a breakout above this level would invalidate the bearish setup.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.