USDJPY 4H Chart Analysis – Bullish Setup in PlayUS Dollar/Japanese YenFX:USDJPYforexorbitThe USDJPY pair is currently showing signs of a bullish continuation after completing a corrective wave pattern (ABC) down into a strong confluence zone. 📌 Key Technical Insights: ✅ Wave Structure: The market appears to have completed a 5-wave impulse up, followed by an ABC corrective pattern. The final leg C has touched the 50% Fibonacci retracement level, aligning with a bullish reaction zone. ✅ Support & Confluence Zone: Price retraced into the green demand zone marked around the 146.5 level. This area also aligns with the Fair Value Gap (FVG) and the midpoint of the impulse leg, indicating strong demand interest. ✅ Fair Value Gap (FVG): Price respected the FVG region twice – first as a breakout, now as a retest. FVG acts as a dynamic support zone around 146.8–147.2. ✅ Key Resistance & Target Zones: Immediate resistance lies at 149.30 (previous high and supply zone). A breakout above this level can trigger a rally toward the 151.50 target, aligning with higher-timeframe resistance. 📈 Potential Bullish Pathway: As shown on the projection path, price is expected to: Hold above the 146.5–147.0 demand zone. Retest 149.30 as resistance. Continue to push higher toward 151.50, completing a larger bullish leg. 💬 Let me know your thoughts in the comments! Will USDJPY break 151 next? #USDJPY #ForexAnalysis #ElliottWave #SmartMoney #PriceAction #FVG #TradingView #FX