Hello 👋 Traders USD JPY
Technical analysis of USD/JPY pair on a 2-hour timeframe, with technical indicators and annotations suggesting a possible trading opportunity. Here's a breakdown:
Key Elements:
1. Trend Analysis:
A downtrend 📉 was broken, suggesting potential trend reversal or bullish momentum 🚀.
Price broke above the downtrend line, indicating a possible shift in sentiment.
2. Support and Resistance:
Support Level: Around 145.00 (price bounced off this level multiple times) 🛡️.
Resistance Level: Around 148.90 (marked as the trade target) 🎯.
3. Moving Averages:
EMA 200 (Blue Line): Around 145.13 – providing dynamic support 🔵.
EMA 50 (Red Line): Around 145.98 – currently acting as near resistance 🔴.
4. Price Projection:
The chart suggests a bullish bounce from the support zone ⬆️.
Potential long entry near the support zone with a target at the resistance level (around 148.90) 💰.
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Strategy Implied:
Long Trade Setup:
Entry: Near the support zone (~145.00–145.30) ✅
Target: Resistance zone around 148.90 🎯
Stop Loss: Just below the support zone (~144.80 or lower) ⚠️
---
Considerations:
Look for bullish reversal candles near support 🔍.
A close above EMA 50 adds bullish strength 💪.
Watch for economic data/news affecting USD or JPY 📰.
Technical analysis of USD/JPY pair on a 2-hour timeframe, with technical indicators and annotations suggesting a possible trading opportunity. Here's a breakdown:
Key Elements:
1. Trend Analysis:
A downtrend 📉 was broken, suggesting potential trend reversal or bullish momentum 🚀.
Price broke above the downtrend line, indicating a possible shift in sentiment.
2. Support and Resistance:
Support Level: Around 145.00 (price bounced off this level multiple times) 🛡️.
Resistance Level: Around 148.90 (marked as the trade target) 🎯.
3. Moving Averages:
EMA 200 (Blue Line): Around 145.13 – providing dynamic support 🔵.
EMA 50 (Red Line): Around 145.98 – currently acting as near resistance 🔴.
4. Price Projection:
The chart suggests a bullish bounce from the support zone ⬆️.
Potential long entry near the support zone with a target at the resistance level (around 148.90) 💰.
---
Strategy Implied:
Long Trade Setup:
Entry: Near the support zone (~145.00–145.30) ✅
Target: Resistance zone around 148.90 🎯
Stop Loss: Just below the support zone (~144.80 or lower) ⚠️
---
Considerations:
Look for bullish reversal candles near support 🔍.
A close above EMA 50 adds bullish strength 💪.
Watch for economic data/news affecting USD or JPY 📰.
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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.
Join My Official Channel Link
t.me/goldprotreader
Join My Public Channel Link
t.me/goldprotreader
t.me/goldprotreader
Join My Public Channel Link
t.me/goldprotreader
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.