USD/JPY – 30M – BUY

The 30-minute USD/JPY chart has fired a cluster of bullish signals, including a Trendline Break Up, Falling Wedge, and Bear Pennant, alongside momentum indicators turning up (BOP Zero Cross Up, CCI Zero Cross Up, RSI OS Exit, STOCH KD Cross Up). These signals suggest a potential short-term bounce within a broader downtrend. However, the trend across all timeframes from 15 minutes to daily remains bearish, with very strong to extremely strong trend scores on the 30-minute through 4-hour charts. This indicates that the bullish signals are likely a counter-trend move, possibly a correction or consolidation, rather than a reversal. The confluence of multiple pattern breakouts and momentum shifts adds weight to the bullish case, but the overwhelming bearish trend on higher timeframes argues for caution.

Key levels to watch are the nearest resistance at 160.53100 and support at 155.22400. A break above resistance could signal a stronger retracement, while a failure to hold above support would invalidate the bullish setup. Traders should monitor whether the bounce can sustain momentum and whether it can overcome the resistance level, as the higher timeframe trend remains firmly bearish.