USDJPY MONTHLY COMPRESSION
Updated
From the monthly chart we can see that USDJPY making compression pattern.
The candlestick going to reach double bullish engulfing monthly which is strong support zone.
Suggestion
Pending order buy 103.500-103.400
Stop loss 99.319
Take profit 112.392
Take profit 120.210
Please filter your entry based on daily candlestick and weekly for sharp and safe entry.
Not suitable for short time trading and small equity trading.
The candlestick going to reach double bullish engulfing monthly which is strong support zone.
Suggestion
Pending order buy 103.500-103.400
Stop loss 99.319
Take profit 112.392
Take profit 120.210
Please filter your entry based on daily candlestick and weekly for sharp and safe entry.
Not suitable for short time trading and small equity trading.
Comment
Price in zone guys!!!! Going to monitor for price action
Preferable from H1-H4
To the moon or not!
Comment
Out of monthly support zone already, I'm still waiting for weekly reversal candle to appear to verify this entryComment
USD/JPY almost reach monthly resistance zone with compression pattern still valid. 200pips above. for those whom following this setup can prepare to sell USD/JPY based on daily rejection.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.