Buy Opportunity

Potential Trade Setup:

Long Position: The analysis suggests a buying opportunity as the price bounces off a strong support zone (154.60).
Entry: Around the current price level of 154.61.
Stop Loss: Placed below the support at 153.50, allowing for some buffer in case of a false breakout.
Take Profit: The target is set at 157.63, which represents a 1.95% upside from the current level.
Risk-Reward Ratio: The setup appears favorable with a potential 3-point move to the upside.

Analysis Breakdown:
Current Price Action:

USD/JPY is currently trading around 154.61, showing a recent pullback after a strong uptrend.
There is a visible bounce from a support area, suggesting a potential continuation of the uptrend.
Volume Profile:

The volume profile highlights areas of significant trading activity. The strongest volume node is observed at the 154.60 level, indicating a potential support zone where buyers may step in.
Support and Resistance Levels:

Support: The nearest support is at 154.60, which aligns with the current price level. Below this, additional support can be seen at 153.50 and 152.23.
Resistance: Key resistance levels are identified at 156.58 and 157.67, with the final take-profit target set at 157.63.
Squeeze Momentum Indicator:

The Squeeze Momentum Indicator is showing green histogram bars, indicating a bullish momentum. However, the histogram bars have started to shrink, suggesting a potential temporary pullback or consolidation.