Overview:**
The USD/JPY chart shows a **bullish breakout from a descending channel**, supported by technical indicators like the Ichimoku Cloud and a strong demand zone. This setup suggests a potential bullish reversal and upward momentum.
*Key Technical Points:**
* **Descending Channel Breakout:**
Price action has broken out of a falling channel, indicating a shift in market sentiment from bearish to bullish.
* **Strong Support Zone:**
Around 143.28 – 143.73, the price found significant support, which aligns with a previous demand zone. This area held firm, helping trigger the breakout.
* **Ichimoku Cloud:**
Price is emerging above the Ichimoku Cloud, signaling a potential start of an uptrend. If the price maintains above the cloud, bullish momentum may strengthen.
* **Resistance Levels:**
* **First Resistance:** Near 146.00 – a critical area to watch for short-term profit-taking.
* **Second Resistance:** Around 148.00 – a more extended target if bullish continuation holds.
---
### **Trading Idea:**
**BUY USD/JPY** on successful retest of the breakout or sustained move above the Ichimoku Cloud.
* **Entry:** 144.30–144.40 zone
* **Target 1:** 146.00
* **Target 2:** 148.00
* **Stop Loss:** Below 143.20 (under the support zone)
---
Conclusion:**
The chart presents a classic **bullish channel breakout** supported by the Ichimoku indicator and price action at a strong support zone. As long as the price holds above the breakout level and Ichimoku Cloud, the upside targets at 146 and 148 remain valid.
Let me know if you want this formatted as a trade plan or journal entry.
To ensure you do not miss the upcoming analysis, be sure to follow me!
Please leave a remark and a like!
The USD/JPY chart shows a **bullish breakout from a descending channel**, supported by technical indicators like the Ichimoku Cloud and a strong demand zone. This setup suggests a potential bullish reversal and upward momentum.
*Key Technical Points:**
* **Descending Channel Breakout:**
Price action has broken out of a falling channel, indicating a shift in market sentiment from bearish to bullish.
* **Strong Support Zone:**
Around 143.28 – 143.73, the price found significant support, which aligns with a previous demand zone. This area held firm, helping trigger the breakout.
* **Ichimoku Cloud:**
Price is emerging above the Ichimoku Cloud, signaling a potential start of an uptrend. If the price maintains above the cloud, bullish momentum may strengthen.
* **Resistance Levels:**
* **First Resistance:** Near 146.00 – a critical area to watch for short-term profit-taking.
* **Second Resistance:** Around 148.00 – a more extended target if bullish continuation holds.
---
### **Trading Idea:**
**BUY USD/JPY** on successful retest of the breakout or sustained move above the Ichimoku Cloud.
* **Entry:** 144.30–144.40 zone
* **Target 1:** 146.00
* **Target 2:** 148.00
* **Stop Loss:** Below 143.20 (under the support zone)
---
Conclusion:**
The chart presents a classic **bullish channel breakout** supported by the Ichimoku indicator and price action at a strong support zone. As long as the price holds above the breakout level and Ichimoku Cloud, the upside targets at 146 and 148 remain valid.
Let me know if you want this formatted as a trade plan or journal entry.
To ensure you do not miss the upcoming analysis, be sure to follow me!
Please leave a remark and a like!
Trade active
first target achieved lets see if it again breach this first resistance , if you are holding the set breakeven
Join My telegram channel Free:
t.me/tamesbulltarder139
💎
VIP Channels:
Forex:+400Pips & Crypto +420% monthly profit at VIP.
check pinned message in telegram for more information.
t.me/tamesbulltarder139
💎
VIP Channels:
Forex:+400Pips & Crypto +420% monthly profit at VIP.
check pinned message in telegram for more information.
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.
Join My telegram channel Free:
t.me/tamesbulltarder139
💎
VIP Channels:
Forex:+400Pips & Crypto +420% monthly profit at VIP.
check pinned message in telegram for more information.
t.me/tamesbulltarder139
💎
VIP Channels:
Forex:+400Pips & Crypto +420% monthly profit at VIP.
check pinned message in telegram for more information.
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.