This analysis is based on the recent price action observed in the USDJPY pair on the 15-minute chart. After a clear downtrend, the price formed a potential reversal pattern with the completion of an ABCD formation, where price touched a strong support zone at 145.40. The green trendline confirms the bullish outlook as the market is respecting this level, and a rebound is expected.
Trade Idea:
Entry: 145.40 (Support level)
Target 1: 146.50
Target 2: 146.90
Stop Loss: 145.20 (Below the recent support)
Trade Idea:
Entry: 145.40 (Support level)
Target 1: 146.50
Target 2: 146.90
Stop Loss: 145.20 (Below the recent support)
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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.