M15 & H1 Intraday Key Levels| Bullish Bias
Market Structure: Bullish
Intraday Sentiment: Buy On Dips
Session Focus: London| Nyc
London Market Overview
Although the USDJPY Forecast structure remains bullish as the price trades above 157.154 on m15 time frame and h1 time frame. Meanwhile the price is in consolidation mode. Moreover the sellers defended the h4 time frame area at 158.056 but still bullish momentum intact for now .
Support Zones
M15 Support Zone
157.154 – 157.117
Intraday Liquidity-Based Demand Zone
Anticipated Support Area
H1 Support Zone
157.154 – 157.117
Higher Timeframe Support Base
Multi Timeframe Support
Resistance Zones
M15 Resistance Zone\H1 Resistance Zone
Although as the price continues the bullish momentum. Meanwhile the price hasn’t established any near by resistance which can push down the price. Moreover the major resistance will remain at 158.056 on h4 time frame.
Session Strategy
Although the buyers are dominating the price. Meanwhile the buyers are defending the short term support base at 156.856, meanwhile seller’s are active at 158.056. However if price closes below 157.117 on h1 time frame then 157.731 may act as the new resistance on m15 and h1, until that upside momentum continues.
Nyc Session Outlook
The USDJPY Forecast remain bullish on h1 higher time frame. Meanwhile the price established character shift in mid London on lower timeframe m15, forming short term resistance at 157.727.
Key Support and Resistance Zones
M15 Resistance:
157.727 – 157.755
Short-term Resistance Zone
H1 Support:
156.219 – 156.170
Higher timeframe Pending Support
Session Strategy
Although the USDJPY Forecast shifted its structure on m15 time frame from bullish to bearish but higher timeframe structure remains bullish for now. In addition if price decisively closes below the 156.170 then price will establish character shift on higher timeframe h1 until then buyers are dominating the price.
Key Takeways
Trend: Bullish
Bias: Buy On Dips
Follow H1 Structure
Disclaimer
Although this analysis is for educational and informational purposes only. Therefore it does not constitute financial advice. However always manage your risk and trade responsibly.
In addition, check out my Previous USDJPY Forecast
For daily USDJPY chart analysis refer my USDJPY Daily Analysis section.