Buy opportunity
Signal: Long Position (Buy USD/JPY)
Entry Point:
Between 149.80 - 150.20, near the current level for optimal entry.
Take Profit Levels:
Target 1: 152.238
Target 2: 153.496
Target 3: 154.703
Stop Loss:
Below 149.30 to account for false breakouts.
Analysis of the Chart
Price Action:
The USD/JPY appears to be in a corrective phase after a significant decline, with potential for a bullish rebound from the current levels.
A target level of 154.703 is marked on the chart, suggesting a potential recovery in the next 12 days.
Support and Resistance:
Key support: 149.351 - 149.876 (zone of the recent low).
Key resistance: 152.238 and 153.496.
Volume Profile:
High volumes in the 150 - 151 range suggest strong interest and could act as a consolidation area for price.
Momentum Indicator:
The Squeeze Momentum Indicator shows negative pressure easing, with a possible shift to positive momentum soon.
Entry Point:
Between 149.80 - 150.20, near the current level for optimal entry.
Take Profit Levels:
Target 1: 152.238
Target 2: 153.496
Target 3: 154.703
Stop Loss:
Below 149.30 to account for false breakouts.
Analysis of the Chart
Price Action:
The USD/JPY appears to be in a corrective phase after a significant decline, with potential for a bullish rebound from the current levels.
A target level of 154.703 is marked on the chart, suggesting a potential recovery in the next 12 days.
Support and Resistance:
Key support: 149.351 - 149.876 (zone of the recent low).
Key resistance: 152.238 and 153.496.
Volume Profile:
High volumes in the 150 - 151 range suggest strong interest and could act as a consolidation area for price.
Momentum Indicator:
The Squeeze Momentum Indicator shows negative pressure easing, with a possible shift to positive momentum soon.
GODO Capital Markets
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