USDJPY:Breakout and Retest Strategy with Key Level and Indicator

Updated

USD/JPY: Breakout and Retest Strategy with Key Levels and Indicators
Analysis:
Price Action Strategy:
Break of Structure (BOS):

The chart shows multiple BOS levels, indicating significant price movements. The first BOS is around 157.173, and the second BOS is around 157.793.

Equal Highs:

The price has formed equal highs around 158.000, suggesting a potential resistance level.

Swing High and Swing Low:

The swing high is at 157.793, and the swing low is at 157.173.

Smart Money Concepts (SMC):
Order Blocks:

The chart shows potential order blocks around the BOS levels, which can act as support and resistance zones.

Liquidity Zones:

The equal highs around 158.000 indicate a liquidity zone where stop orders might be placed.

ICT Strategy:
Fibonacci Retracement:

The Fibonacci levels (0.382, 0.5, 0.618, 0.705, 0.786) are drawn from the swing high to the swing low, indicating potential retracement levels.

Volume Profile:

The volume profile shows high trading activity around 157.793 and 157.173, indicating strong support and resistance levels.

Indicators:
RSI:

The RSI is currently around 55.68, indicating a neutral market condition.

MACD:

The MACD shows a potential bullish crossover, suggesting a possible upward movement.

Volume:

The volume bars indicate increased trading activity around the BOS levels.
Buy Signal:
entry: 157.793
tp1: 158.000
tp2: 158.500
sl: 157.173

Sell Signal:
entry: 158.000
tp1: 157.793
tp2: 157.173
sl: 158.500
Follow Alexgoldhunter for more strategic ideas and minds

Trade active

active entry: 157.793

Alexgoldhunter

Alex Gold Hunter

Free Signals & analysis
Join for Free

tinyurl.com/ClassicFreeSignals

bit.ly/4fQGd0G

bit.ly/3ODlUI4

Also on:

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.