USD/JPY 30-Minute Trade Setup: Bullish Reversal from Key Support
EMA (30, close) - Red Line: 149.488 (shorter-term trend)
EMA (200, close) - Blue Line: 149.862 (longer-term trend)
Trade Setup:
Entry Zone: Around 149.000 (marked by the purple support area)
Stop Loss: 148.698 (below the key support level)
Target Point: 150.275 (potential profit level)
Analysis:
Price is currently testing a strong support zone (purple area), suggesting a possible bullish reversal.
The 30 EMA (red) is acting as local resistance.
The 200 EMA (blue) is positioned above, which may act as further resistance if price moves up.
The price action suggests a potential bounce from support, leading to a target around 150.275.
Risk-to-Reward Consideration:
Stop loss is placed slightly below the support zone for risk management.
Target price provides a favorable risk-to-reward ratio of approximately 1:3.
Conclusion:
A long (buy) trade is expected if price holds above the support zone.
If price breaks below 148.698, the bullish setup could be invalidated.
A break above 149.862 (200 EMA) would confirm a stronger bullish continuation.
EMA (200, close) - Blue Line: 149.862 (longer-term trend)
Trade Setup:
Entry Zone: Around 149.000 (marked by the purple support area)
Stop Loss: 148.698 (below the key support level)
Target Point: 150.275 (potential profit level)
Analysis:
Price is currently testing a strong support zone (purple area), suggesting a possible bullish reversal.
The 30 EMA (red) is acting as local resistance.
The 200 EMA (blue) is positioned above, which may act as further resistance if price moves up.
The price action suggests a potential bounce from support, leading to a target around 150.275.
Risk-to-Reward Consideration:
Stop loss is placed slightly below the support zone for risk management.
Target price provides a favorable risk-to-reward ratio of approximately 1:3.
Conclusion:
A long (buy) trade is expected if price holds above the support zone.
If price breaks below 148.698, the bullish setup could be invalidated.
A break above 149.862 (200 EMA) would confirm a stronger bullish continuation.
Trade closed: target reached
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Join my telegram (COPY_TRADE)
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Join my refrel broker link
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Join my refrel broker link
one.exnesstrack.org/a/l1t1rf3p6v
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.