USDJPY Analysis: Risk of a Choppy Range!U.S. Dollar / Japanese YenFOREXCOM:USDJPYhosein8731As the price reached the bottom of the ascending channel and the support zone of 156.487 to 155.489, exactly as we expected in our USDJPY analysis on August 3, the price reacted appropriately, and we witnessed buyers entering this structure. Now, in the continuation of our Dollar to Yen analysis, we will attempt to examine the probable path of price movement. In the Dollar to Yen analysis, the re-entry of buyers at the bottom of the ascending channel is completely evident. Considering the formed candles, it seems that the buyers who entered the market in this area will try to push the price to a suitable supply level, which in the current structure is the top of the ascending channel on the daily timeframe. Below, we will explore the probable scenarios for the Dollar to Yen analysis. Current Structure and Probable Scenarios An important point we must consider is the trading node of 158.888 to 159.537 on a lower timeframe, where the price has currently stalled. For buyers to reach their main target, which is the top of the ascending channel, they must first overcome this resistance barrier. If buyers manage to confidently break through the 158.888 to 159.537 range, we can expect a new bullish structure to form, and the price will subsequently attempt to reach the top of the channel and the 163.983 to 164.347 zone. If this resistance level is not broken, the probability of a small price range forming will increase; the top of this range will be the 158.888 to 159.537 zone, and its bottom will be the 156.487 to 155.489 support zone. In this situation, the price may fluctuate within this same range for a while until one of the two sides is eventually broken. As a result, in the current situation, the most important issue for us is the price reaction to the 158.888 to 159.537 zone. We must see whether buyers will have the strength to pass this barrier or if we will witness the formation of an exhausting range that could trap the price between the two support and resistance levels for some time.