This chart shows a potential bullish setup for USD/JPY based on a support-resistance range. Here's a quick breakdown:
Support Zone (bottom pink band): Price has bounced off this zone multiple times, suggesting strong buying interest around 142.200–142.400.
Resistance Zone / Take Profit Area (top pink band): Price has also reversed from the 144.000–144.300 area several times, marking it as a target zone.
Entry Line: Around the 142.650 level, marked as a key level where traders may look for long entries if price respects the support again.
Pattern: The chart is showing a potential "double bottom" or
Support Zone (bottom pink band): Price has bounced off this zone multiple times, suggesting strong buying interest around 142.200–142.400.
Resistance Zone / Take Profit Area (top pink band): Price has also reversed from the 144.000–144.300 area several times, marking it as a target zone.
Entry Line: Around the 142.650 level, marked as a key level where traders may look for long entries if price respects the support again.
Pattern: The chart is showing a potential "double bottom" or
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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.