This chart represents a technical analysis of the USD/JPY currency pair on the 1-hour timeframe. Here’s what it indicates:
1. Selling Zone (Yellow Area – Around 151.331)
This is a resistance area where sellers are expected to take control, leading to price rejection and a possible downward move.
2. Buyer’s Zone (Pink Area – Around 148.800 – 149.000)
This is a support area where buyers are likely to step in, causing price to bounce back up.
3. Market Movement & Prediction
The price moved up towards the Selling Zone, where it faced resistance and reversed downward (black arrow).
It then dropped to the Buyer’s Zone, where the trade hit its Target Win (blue arrow with “”).
The chart suggests a successful short trade from the Selling Zone to the Buyer’s Zone.
Summary:
This analysis shows a successful sell trade from the resistance (151.3) down to support (148.9), hitting the target profit level. It highlights price action behavior around key zones and a well-executed strategy.