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U.S. Dollar / Japanese Yen
Long

USDJPY Bullish Projection

168
The USD/JPY pair is showing strong bullish momentum, driven by both technical and fundamental factors. Here's the breakdown of the setup:

Trend: The pair has maintained a consistent uptrend, recently hitting a high of 156.748 before retracing slightly.
Key Support: The current support level is holding at 154.312, aligning with the 50-day moving average.
Resistance: Next major resistance is at 156.748, the recent high.
Indicators: RSI is at 66.033, suggesting the pair has room to move higher before reaching overbought territory.
Fundamentals: The Bank of Japan’s dovish policies and robust U.S. economic data continue to support USD strength against the yen.

Trade Plan:

Entry: 154.312 (current market price).
Stop-Loss: 153.862 (just below the support level to minimize risk).
Take-Profit: 156.748 (targeting the recent high)
riskyricky
Ricky Andrade also known as @RiskyRicky
(Founder of Market Masters, Inc.)
Also on:
Fundamental AnalysisTechnical IndicatorsTrend Analysis

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.
Fundamental AnalysisTechnical IndicatorsTrend Analysis
riskyricky
Ricky Andrade also known as @RiskyRicky
(Founder of Market Masters, Inc.)
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.