Technical Analysis of the USD/JPY
USD/JPY – Double Bottom Breakout Signals Bullish Momentum
Pattern Formation
A clear Double Bottom Pattern has formed near the 142.26 support zone, suggesting a potential reversal from the recent downtrend.
Neckline Breakout
Price has successfully broken above the neckline, confirming the bullish setup. A minor retest of the breakout zone adds confidence to the upside move.
Support and Resistance Levels
- Key Support: 142.26
- Immediate Resistance Targets:
- 144.25 – First minor resistance
- 145.15 – Mid-term target
- 146.05–146.08 – Final target zone
Trading Outlook
Bias remains bullish above the neckline. A sustained move above 143.41 could lead to further gains toward the target area. A drop below 142.26 would invalidate the setup.
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USD/JPY – Double Bottom Breakout Signals Bullish Momentum
Pattern Formation
A clear Double Bottom Pattern has formed near the 142.26 support zone, suggesting a potential reversal from the recent downtrend.
Neckline Breakout
Price has successfully broken above the neckline, confirming the bullish setup. A minor retest of the breakout zone adds confidence to the upside move.
Support and Resistance Levels
- Key Support: 142.26
- Immediate Resistance Targets:
- 144.25 – First minor resistance
- 145.15 – Mid-term target
- 146.05–146.08 – Final target zone
Trading Outlook
Bias remains bullish above the neckline. A sustained move above 143.41 could lead to further gains toward the target area. A drop below 142.26 would invalidate the setup.
If you enjoy, press the like button.
Trade active
from 143.000
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Disclaimer
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💸FREE FOREX Signals in Telegram : t.me/FxInsightsHub0
🔹Join Our Telegram Channel, Pure Price Action Based Signals With Chart Analysis.
t.me/FxInsightsHub0
🚀FREE CRYPTO Signals In Telegram: t.me/FxInsightsHub0
🔹Join Our Telegram Channel, Pure Price Action Based Signals With Chart Analysis.
t.me/FxInsightsHub0
🚀FREE CRYPTO Signals In Telegram: t.me/FxInsightsHub0
Related publications
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.