{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/usdjpy-price-may-experience-a-reversal-at-the-148-40-support-level\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/usdjpy-price-may-experience-a-reversal-at-the-148-40-support-level\/","headline":"USDJPY Price May Experience a Reversal at the $148.40 Support Level","name":"USDJPY Price May Experience a Reversal at the $148.40 Support Level","description":"The currency pair may experience a possible reversal soon.Sellers remain dominant in the market at the moment.USDJPY Weekly Price Analysis \u2013 March 8The market price of USDJPY may experience a possible reversal at the $148.40 support level to resume its upside moves soon. The pair could see another bullish rally soon if the bulls should […]","datePublished":"2024-03-08","dateModified":"2024-03-08","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2024\/03\/USDJPY-LNT-1.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2024\/03\/USDJPY-LNT-1.png","height":579,"width":1080},"url":"https:\/\/forexschoolonline.com\/usdjpy-price-may-experience-a-reversal-at-the-148-40-support-level\/","about":["Forex Trading Tools","FX Technical Analysis","Price Action Charts in Focus","Price Action Trigger Signals","Trade Idea","Trade Setups","USD\/JPY"],"wordCount":586,"keywords":["FX Technical Analysis","US Dollar Japanese Yen","USDJPY"],"articleBody":"The currency pair may experience a possible reversal soon.Sellers remain dominant in the market at the moment.USDJPY Weekly Price Analysis \u2013 March 8The market price of USDJPY may experience a possible reversal at the $148.40 support level to resume its upside moves soon. The pair could see another bullish rally soon if the bulls should push harder and exchange hands with the bears at the $148.40 current support, the price may likely reverse in a bullish direction and may perhaps retest the previous high of $151.90 which might expose the Yen price to the $152.00 upper high level and beyond, resulting to the best forex signal to buy for the buy traders.USDJPY MarketKey Levels:Resistance levels: $148.00, $149.00, $150.00Support levels:\u00a0 \u00a0 $140.00, $139.00, $138.00USDJPY Long-term Trend: BearishUSDJPY indicates a downward trend with a bearish sentiment in its long-term perspective. The coin is trading below the EMAs. However, the current trend may experience a possible reversal as the market is oversold already.The sustained bearish pressure at the $149.09 support value during yesterday\u2019s session has made the Yen price drop below the supply levels in its recent low.Today, actions from the bears further drop the USDJPY price down to a $148.40 support level below the moving averages; this is an indication of a bearish momentum in the context of the strength of the Yen. The bears are dictating the market conditions at present.Hence, should the bulls put additional efforts into their buying motives; the price of USDJPY may experience a possible reversal at the mentioned support and turn positive to retest the previous high of $151.90 value.Further, USDJPY is likely going to experience a possible reversal and face the upsides soon as the market is now trading in the oversold region around the 5% range of the daily stochastic; it means that the selling pressure will end soon. This will compel the buy traders to resume an uptrend and may likely break up the $151.90 supply level to hit the $152.00 upper resistance in the days ahead in its higher time frame.Hence, buyers need to wait for this action to take place before placing an order.USDJPY Medium-term Trend: Bearish (4H Chart)According to the chart below, the medium-term outlook for the USDJPY market is in a bearish trend zone. The prices can be seen trading below the resistance levels which suggests a bearish trend. The bears have benefited from the recent market structure.The bearish candle at the $148.61 low value during the previous action has made the Yen price trade below the supply levels in recent times.However, the Yen is about to experience a possible reversal and the current trend will soon be nullified as the market now trades at the oversold region.The price action drops significantly down to the $148.40 support level as the 4-hourly chart opens today. This is an indication of a downtrend and an opportunity for the sell traders at the moment.Thus, if buyers eventually wrestle trend control from sellers and rebound from $148.40 support, a breakout above the trend line is needed to confirm the potential Bull Run. Meanwhile, the USDJPY may experience a possible reversal at the $148.40 support level and face the upsides soon as the market is already oversold. If this is achieved by the long-term investors, the recovery rally may reach the $152.00 upper high value in the coming days in its medium-term perspective.Note: Forexschoolonline.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results."}