🔵 Technical Analysis for USD/JPY:
We are observing a key rebound support area at the current levels.
Entry Zone: Around 142.48
Rationale for the Trade:
Price is positioned at a strong order block area on the 1-hour timeframe.
Expecting a bullish corrective move from the current support zone.
First Target for the Correction: Aiming for the 144.00 level as an initial resistance and profit-taking area.
Stop-Loss Level: A break and close below 141.44 would invalidate the setup.
Note: Proper risk management is essential, as this is a speculative corrective move within a broader market trend.
We are observing a key rebound support area at the current levels.
Entry Zone: Around 142.48
Rationale for the Trade:
Price is positioned at a strong order block area on the 1-hour timeframe.
Expecting a bullish corrective move from the current support zone.
First Target for the Correction: Aiming for the 144.00 level as an initial resistance and profit-taking area.
Stop-Loss Level: A break and close below 141.44 would invalidate the setup.
Note: Proper risk management is essential, as this is a speculative corrective move within a broader market trend.
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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.
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.