This chart displays a 1-hour candlestick chart for USD/JPY (U.S. Dollar vs. Japanese Yen) as of April 13, 2025, using data from OANDA on TradingView. Let’s break down the key elements and provide a technical analysis:
🔍 Chart Overview
• Current Price: Around 143.47
• Trend: The market has been in a clear downtrend from the 151.5 level to around 143.
• Key Tools/Indicators Used:
• BBandLE/BBandSE: Bollinger Band-based Long/Short Entry signals.
• Support & Resistance Zones: Highlighted by the red/purple rectangular zones.
• Risk-to-Reward Trade Setup: Shown using the green (profit target) and red (stop loss) shaded areas.
📊 Support & Resistance Levels
1. Resistance Zones:
• ~151.5 (significant sell-off zone)
• ~147.8–148.3 (where multiple BBandSE entries occurred)
2. Support Zones:
• ~143.0–142.9 (price bounced here recently)
• ~141.9 (potential final support from April 11th)
🔄 Buy Signals
Multiple BBandLE (Buy entries) occurred at:
• ~146
• ~144
• Most recent one around 143, suggesting a potential bottom/reversal.
These coincide with the support zone around 143–142.9, indicating possible accumulation or institutional buying.
📉 Sell Signals
• Several BBandSE (Sell entries) occurred around:
• 151.5
• 148.5
• 147.5
These acted as strong resistance, confirming the bearish momentum that led to the current low.
🧮 Trade Setup
From the chart:
• Entry: Around 143.4 (current level)
• Stop-loss: ~142 (below recent support)
• Target zone: ~147–148.3 (resistance level)
• Risk-to-Reward: Estimated at around 1:3, making it a favorable setup if the reversal holds.
⚠️ Risks
• False breakout risk below 143: Could test 141.9 support or fall further if broken.
• Yen intervention or USD-related economic data could cause sudden volatility.
• Current market sentiment is still bearish, so early entries might need tight management.
✅ Conclusion
• Technical Bias: Short-term bullish reversal potential, but overall trend still bearish.
• Strategy: Ideal for a short-term counter-trend long trade, with tight stop-losses and partial profit-taking near the 147–148 zone.
• Confirmation needed: Wait for a higher high above 144.5–145 to confirm the reversal.
🔍 Chart Overview
• Current Price: Around 143.47
• Trend: The market has been in a clear downtrend from the 151.5 level to around 143.
• Key Tools/Indicators Used:
• BBandLE/BBandSE: Bollinger Band-based Long/Short Entry signals.
• Support & Resistance Zones: Highlighted by the red/purple rectangular zones.
• Risk-to-Reward Trade Setup: Shown using the green (profit target) and red (stop loss) shaded areas.
📊 Support & Resistance Levels
1. Resistance Zones:
• ~151.5 (significant sell-off zone)
• ~147.8–148.3 (where multiple BBandSE entries occurred)
2. Support Zones:
• ~143.0–142.9 (price bounced here recently)
• ~141.9 (potential final support from April 11th)
🔄 Buy Signals
Multiple BBandLE (Buy entries) occurred at:
• ~146
• ~144
• Most recent one around 143, suggesting a potential bottom/reversal.
These coincide with the support zone around 143–142.9, indicating possible accumulation or institutional buying.
📉 Sell Signals
• Several BBandSE (Sell entries) occurred around:
• 151.5
• 148.5
• 147.5
These acted as strong resistance, confirming the bearish momentum that led to the current low.
🧮 Trade Setup
From the chart:
• Entry: Around 143.4 (current level)
• Stop-loss: ~142 (below recent support)
• Target zone: ~147–148.3 (resistance level)
• Risk-to-Reward: Estimated at around 1:3, making it a favorable setup if the reversal holds.
⚠️ Risks
• False breakout risk below 143: Could test 141.9 support or fall further if broken.
• Yen intervention or USD-related economic data could cause sudden volatility.
• Current market sentiment is still bearish, so early entries might need tight management.
✅ Conclusion
• Technical Bias: Short-term bullish reversal potential, but overall trend still bearish.
• Strategy: Ideal for a short-term counter-trend long trade, with tight stop-losses and partial profit-taking near the 147–148 zone.
• Confirmation needed: Wait for a higher high above 144.5–145 to confirm the reversal.
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.