USD/JPY1-hour time frame technical analysis next move possible.US Dollar/Japanese YenFX:USDJPYDavidHills110This chart represents a USD/JPY (U.S. Dollar / Japanese Yen) 1-hour time frame analysis. The key elements of the chart include: 1. Support and Resistance Levels: 149.294: A lower support level where price could bounce. 150.643: A resistance level that price may break through. Red Zone (~152.000): A strong supply/resistance area where price may struggle to go higher. 2. Price Action & Prediction: The price is currently around 149.713 and testing support near 149.294. The black arrow suggests a bullish scenario, where price is expected to bounce from support and move towards 150.643, potentially reaching the 152.000 resistance zone. 3. Technical Patterns: A potential breakout setup where price may push higher if it holds above support. Price previously rejected from the red supply zone (~152.000), meaning it could face resistance again if it reaches there. This chart suggests a possible buy opportunity around 149.294, with targets at 150.643 and 152.000. However, if price breaks below support, the setup could become invalid.