The tools and pattern used in the USD/JPY chart (2H timeframe):
## 🔷 *Chart Tools & Indicators Used:*
1. *Resistance Area (Blue Zone at Top):*
Marked near 151.00 level.
Expected to act as a strong resistance and potential target zone.
2. *OB (Order Block):*
Highlighted blue box just below the current price.
Represents a demand zone where price may react and bounce for continuation.
3. *Ascending Parallel Channel:*
Price is moving within an upward sloping channel.
Connecting higher highs and higher lows showing bullish market structure.
4. *Impulse Measurement Boxes:*
Measurement of bullish impulse moves with values in pips and percentage:
*Example: 319.1 pips (2.16% gain).
5. *RSI Indicator (Below Price Chart):*
RSI at approximately 63.57, indicating bullish momentum but not yet overbought.
Shows previous buy/sell signals marked as "Bear" & "Bull".
6. *Projection Path & Arrows:*
Black zigzag path predicting minor retracement to the OB zone before another bullish leg.
Large green arrow pointing towards the resistance target.
🔷 *Chart Pattern:*
Bullish Flag / Channel Pattern:*
Continuation pattern with corrective pullbacks and impulsive bullish moves.
Suggests continuation to the upside after minor pullbacks.
🔷 *Target Clarification:*
Upside Target:* Resistance zone near *151.00*.
Expected pullback into OB (around 148.5-149.0 zone) before bullish continuation.
Price is following a *bullish trendline & channel support* for upward trajectory.
🔷 Summary:
The chart shows a *bullish continuation structure*.
Anticipated movement: Pullback to the *Order Block, then bullish rally towards **151.00 resistance area*.
Tools confirm momentum: *Channel, OB, RSI, Price Projections*.
Would you like me to give you a *Buy Setup plan (Entry, SL, Target) for USDJPY from this chart?*
Reply with "Yes, USDJPY trade setup" if interested.
## 🔷 *Chart Tools & Indicators Used:*
1. *Resistance Area (Blue Zone at Top):*
Marked near 151.00 level.
Expected to act as a strong resistance and potential target zone.
2. *OB (Order Block):*
Highlighted blue box just below the current price.
Represents a demand zone where price may react and bounce for continuation.
3. *Ascending Parallel Channel:*
Price is moving within an upward sloping channel.
Connecting higher highs and higher lows showing bullish market structure.
4. *Impulse Measurement Boxes:*
Measurement of bullish impulse moves with values in pips and percentage:
*Example: 319.1 pips (2.16% gain).
5. *RSI Indicator (Below Price Chart):*
RSI at approximately 63.57, indicating bullish momentum but not yet overbought.
Shows previous buy/sell signals marked as "Bear" & "Bull".
6. *Projection Path & Arrows:*
Black zigzag path predicting minor retracement to the OB zone before another bullish leg.
Large green arrow pointing towards the resistance target.
🔷 *Chart Pattern:*
Bullish Flag / Channel Pattern:*
Continuation pattern with corrective pullbacks and impulsive bullish moves.
Suggests continuation to the upside after minor pullbacks.
🔷 *Target Clarification:*
Upside Target:* Resistance zone near *151.00*.
Expected pullback into OB (around 148.5-149.0 zone) before bullish continuation.
Price is following a *bullish trendline & channel support* for upward trajectory.
🔷 Summary:
The chart shows a *bullish continuation structure*.
Anticipated movement: Pullback to the *Order Block, then bullish rally towards **151.00 resistance area*.
Tools confirm momentum: *Channel, OB, RSI, Price Projections*.
Would you like me to give you a *Buy Setup plan (Entry, SL, Target) for USDJPY from this chart?*
Reply with "Yes, USDJPY trade setup" if interested.
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.
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.