We have an analysis of the USDJPY H4 chart.
Updated
We used the theory of price action in order to conduct this analysis, so that we could guide our decision-making process.
The price is coming from the Descending channel. Duringis movement, the price has made multiple pullbacks and bounce backs on supports and resistances, as indicated in the analysis. The price has fallen from the channel's upper trendline & resistance. If this trendline and resistance are respected, then we will look at the down side support area of 131.920.wever, if the price breaks both the trendline and resistance area, then we will look at the up side resistance areas 141.495 & 145.516 as our new trade target.
With this analysis, you will be able to find your most profitable trade, since Enclavefx believes in enhancing the knowledge of our clients & followers.
The price is coming from the Descending channel. Duringis movement, the price has made multiple pullbacks and bounce backs on supports and resistances, as indicated in the analysis. The price has fallen from the channel's upper trendline & resistance. If this trendline and resistance are respected, then we will look at the down side support area of 131.920.wever, if the price breaks both the trendline and resistance area, then we will look at the up side resistance areas 141.495 & 145.516 as our new trade target.
With this analysis, you will be able to find your most profitable trade, since Enclavefx believes in enhancing the knowledge of our clients & followers.
Trade closed: target reached
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