Simply Break the Support Level on the 1h TF.
Here in this pair you an definitely can see a Downtrend with a lot of momentum. Trade trigered buy Sell Stop at 1.27200. Let's wait and check how this will work
Clearly a Double Bottom + Previous Retest on the Major Support Zone make it almost 0% Risk trade. TP - 0.98250 TP - 0.98500 TP - 0.98950 TP - 0.99150
Everytime it touches on the resistance in the past the pair rejected, but it's not worth to enter now cuz its almost touching a minor support level so I will wait too see if it closes below the Orange Support Level to enter in a Short Position. Almost everything in my trading plan is checked but not one "box" so I will wait to see what happens.
My thoughs are actually that it will break the support zone and get to the 4h zone on my chart (purple).
The pair is inside a Consolidation Box and I wait to see how it will react to the next support zone. A trend was being created with HL and HH but with nfp day maybe we are seeing a beggining of a reversal to test the major support zone again
My ideia here is to wait to see what happens when the USDJPY gets to resistance trendline and see how it will react.
I opened a position last week and hit TP1-TP2-TP3. Right now I'm looking for the pair to touch the trendline and see if it breaks or use it as a support to go to my TP4. If it breaks - closing TP4 imediately and looking for selling oportunities If the trend continues maybe open another buy position to secure more profits in the path to the TP4.