#USDJPY 2HUSDJPY (2H Timeframe) Analysis
Market Structure:
The price is currently testing a key resistance level, which has previously acted as a barrier to upward movement. Signs of rejection at this level indicate potential selling pressure.
Forecast:
A sell opportunity is anticipated if the price continues to face rejection from the resistance zone, signaling a possible move downward.
Key Levels to Watch:
Entry Zone: Near the resistance level after confirmation of rejection.
Risk Management:
Stop Loss: Placed above the resistance zone or recent swing high to minimize risk.
Take Profit: Target the nearest support levels for potential downside movement.
Market Sentiment:
Selling pressure is expected to dominate as long as the price remains below the resistance level, maintaining a bearish outlook.