USD/JPY: Sideway Trend with a Slight Downward Bias
The USD/JPY pair is trading around 157.53, exhibiting a sideway trend with a slight downward bias as the market remains cautious. On the 4-hour chart, the price is squeezed between the strong resistance zone at 158.61 and the key support level at 156.98. The EMA 34 and EMA 89 moving averages are positioned above the current price, acting as a "dynamic ceiling" that prevents significant upward movements.
Trading Strategy:
Sell:
Entry Point: 158.50 – 158.60 (resistance zone).
Take-Profit: 157.00 (support zone).
Stop-Loss: 158.80.
Buy:
Entry Point: 156.90 – 157.00 (support zone).
Take-Profit: 158.00 – 158.20.
Stop-Loss: 156.70.
Breakout Trading:
Buy: If the price breaks above 158.61, target 160.00.
Sell: If the price breaks below 156.98, target 155.50.
Trading Strategy:
Sell:
Entry Point: 158.50 – 158.60 (resistance zone).
Take-Profit: 157.00 (support zone).
Stop-Loss: 158.80.
Buy:
Entry Point: 156.90 – 157.00 (support zone).
Take-Profit: 158.00 – 158.20.
Stop-Loss: 156.70.
Breakout Trading:
Buy: If the price breaks above 158.61, target 160.00.
Sell: If the price breaks below 156.98, target 155.50.
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