Key Elements in the Chart:
Uptrend Channel: The price was moving inside an ascending channel but recently broke downward.
Resistance Zone: Marked near the 150.000 level, indicating a key rejection area where sellers are strong.
Sell Zone: A potential short-selling opportunity is identified around 149.300 after a breakdown from the channel.
Support Zone: Located around 148.500, where the price may find temporary buying interest.
Target: The final target for the bearish move is near 147.000, suggesting a further downside potential.
Trading Idea:
Bias: Bearish (selling opportunity after a trendline break)
Entry: Near 149.300 (confirmed rejection)
Target: 147.000
Risk Management: Stop-loss can be placed above the resistance area.
This setup suggests that USD/JPY may continue its downward move after failing to sustain the uptrend. Traders should watch for confirmation signals before entering.
Uptrend Channel: The price was moving inside an ascending channel but recently broke downward.
Resistance Zone: Marked near the 150.000 level, indicating a key rejection area where sellers are strong.
Sell Zone: A potential short-selling opportunity is identified around 149.300 after a breakdown from the channel.
Support Zone: Located around 148.500, where the price may find temporary buying interest.
Target: The final target for the bearish move is near 147.000, suggesting a further downside potential.
Trading Idea:
Bias: Bearish (selling opportunity after a trendline break)
Entry: Near 149.300 (confirmed rejection)
Target: 147.000
Risk Management: Stop-loss can be placed above the resistance area.
This setup suggests that USD/JPY may continue its downward move after failing to sustain the uptrend. Traders should watch for confirmation signals before entering.
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.
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.