USDJPY: 1-Hour Strategy Setup
Buy Setup:
Look for a bullish divergence on the RSI or MACD around the 142 support on the 1-hour chart.
Confirm if the price forms a reversal pattern, like a double bottom.
If the price moves above the 20 or 50 EMA on the 1-hour, this could be a confirmation to go long for a short-term move.
Sell Setup:
If the price shows a bearish rejection at the 20 or 50 EMA or forms a weak bounce.
Look for price breaking below key support (e.g., 142 on the 1-hour chart).
A bearish crossover of the MACD or an RSI approaching overbought near resistance could signal a good short opportunity.
Look for a bullish divergence on the RSI or MACD around the 142 support on the 1-hour chart.
Confirm if the price forms a reversal pattern, like a double bottom.
If the price moves above the 20 or 50 EMA on the 1-hour, this could be a confirmation to go long for a short-term move.
Sell Setup:
If the price shows a bearish rejection at the 20 or 50 EMA or forms a weak bounce.
Look for price breaking below key support (e.g., 142 on the 1-hour chart).
A bearish crossover of the MACD or an RSI approaching overbought near resistance could signal a good short opportunity.
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.