USD/JPY Take 2US Dollar vs. Japanese YenFX:USDJPYTraderTed16On 30th March 2026, I posted an idea called "USD-JPY inching closer to Testing previous Highs". This post was highlighting how the US Dollar was increasingly showing strength in regards to the Japanese yen and that this market was reaching ever closer to it's previous high on 3rd July 2024. This market consolidated until the 29th April 2026 where we saw a big downturn for a day, and has now since recovered and has made it's way back up to the recent highs and has managed to push through the July 2024 high as the yen weakens more and more. This 'Idea' is take 2 of that same idea. Today this market sits at a level where a potential reaction could occur. However, looking at the chart there are a cluster of higher price levels this market could reach before a downside move could potentially start. Do we see a negative end of day close today (1st July 2026) below the 162.263 level and potentially start a move down? Or do we continue to see strength and move to the higher price levels and potentially have a bearish setup and move to the downside from there. Time will tell and patience is required.