USD/JPY Intraday Signal: Capped by Bearish Trendline Below 146.70
Analyses:
USD/JPY is encountering resistance at 146.70, aligned with a descending trendline. As long as price remains below this level, the bearish outlook remains intact. Downside targets are set at 145.60 and 145.20. A confirmed break above 146.70 would invalidate this bias and pave the way toward 147.20 and 147.60.
Enter: 146.60
SL: 147.20
Target A: 145.60
Target B: 145.20
🔴 Signal Result
⛔️ Stop Loss was triggered at 147.20, resulting in a 60-pip loss from the entry at 146.60.
The bearish setup was invalidated after price broke above the descending trendline and key resistance at 146.70.
We continue to monitor USD/JPY for new opportunities under changing market conditions.