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Trader Journals:::2025-08-22T03:39:46

USD/JPY

USD/JPY Technical aalysis H-1 Chart

USD/JPY

Based on the image of the USD/JPY H1 chart, here is an analysis of the provided information: Chart Overview: * Asset: USD/JPY (US Dollar vs Japanese Yen) * Timeframe: H1 (1-hour chart) * Date Range: The visible data runs from approximately 18 Aug 19:00 to 22 Aug 07:00. Price Action Analysis: * Trend: The chart shows a clear bullish trend. The price was relatively stable or slightly declining between August 18th and August 20th but then began a strong uptrend from late on August 20th, continuing sharply upward into August 21st and August 22nd. * Current Price: The price is at or near 148.57, as indicated by the yellow box and the text at the top. * Resistance: There appears to be a strong resistance level at around 148.50 to 148.90, marked by the purple and orange horizontal lines. The price has just recently broken through the lower of these levels (the orange line) and is testing the higher one. * Moving Average: The red line on the chart is a moving average. The price is currently well above this moving average, which is a common indicator of a strong uptrend. Indicator Analysis: * RSI (Relative Strength Index): The bottom panel shows the RSI (14). * The RSI value is 72.52. * Since the RSI is above 70, this indicates that the USD/JPY pair is in overbought territory. This suggests that the current uptrend may be nearing a point of consolidation or a potential reversal, as the buying pressure might be exhausted. * OsMA (Oscillator of Moving Average): The bar chart in the bottom panel is likely the OsMA. * The OsMA bars are positive (above the zero line) and have been increasing in height, confirming the strong bullish momentum. * However, the most recent bars seem to be decreasing in height, which could be an early sign of weakening momentum, aligning with the overbought RSI reading. Conclusion: The chart shows a powerful uptrend for USD/JPY. The price has just tested a significant resistance level. While the trend is strong, the overbought RSI and potential weakening momentum on the OsMA suggest that a pullback or consolidation phase could be imminent.
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