USDJPY appears to have completed a near textbook A-B-C consolidation.
Both trend and momentum are showing divergence which supports the analysis.
Entry at current price with SL at recent lows ($109.114) provides a great Risk-Reward ratio.
For a confirmation of uptrend resumption, you may like to wait for a strong break of the trend channel.
SL remains the same for both entries.
Both trend and momentum are showing divergence which supports the analysis.
Entry at current price with SL at recent lows ($109.114) provides a great Risk-Reward ratio.
For a confirmation of uptrend resumption, you may like to wait for a strong break of the trend channel.
SL remains the same for both entries.
Note
Another good entry point to initiate new position or add on to existing position.SL: $109.114 remains
Trade closed: target reached
Consolidation appears complete. Trade at your own time and target.
Happy Trading.
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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.
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.