Price action on the JPY chart shows a breakout from a significant downtrend, with recent bullish momentum testing the 141.760 resistance. After a long period of consolidation, the market seems ready for a potential upside rally.
Key Highlights:
Breakout from the parallel channel and test of a previous consolidation range.
Price retesting the support zone (140.212 - 141.082) before a potential surge.
Watch for clean breaks above 144.114, 146.302, and the major level at 148.227.
Possible Scenarios:
Bullish Continuation: A higher low formation could launch a wave of bullish momentum toward 148.227
Pullback First: Short-term dip to the support zone before a bullish breakout.
Eyes on the prize — this setup could deliver major gains with solid risk management. Set alerts and prepare for volatility!
Key Highlights:
Breakout from the parallel channel and test of a previous consolidation range.
Price retesting the support zone (140.212 - 141.082) before a potential surge.
Watch for clean breaks above 144.114, 146.302, and the major level at 148.227.
Possible Scenarios:
Bullish Continuation: A higher low formation could launch a wave of bullish momentum toward 148.227
Pullback First: Short-term dip to the support zone before a bullish breakout.
Eyes on the prize — this setup could deliver major gains with solid risk management. Set alerts and prepare for volatility!
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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.
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.