USDJPY buy analysis appears well-structured with a clear trading plan. Here's a breakdown of my chart illustrates:
Timeframe: 4H (4-hour)
Pair: USD/JPY
Current Price: ~143.29
Key Elements Identified:
1. Entry Point: Around the current price zone (143.29) following a bullish structure and breakout pattern.
2. Target 1: 145.831 – this likely represents a nearby resistance level and first take-profit area.
3. Target 2: 147.775 – a further resistance zone and the final take-profit.
4. Stop Loss: Just below the recent swing low (~140.85), protecting the position in case of a trend reversal.
5. Structure: The chart shows a higher low being formed, indicating a potential trend reversal or continuation of bullish momentum.
6. Projection: A strong bullish move toward Target 1, possibly followed by a correction and another leg up to Target 2.
Strategy Summary:
Risk-Reward Ratio: Appears favourable based on stop-loss and target zones.
Confirmation: Entry likely based on price action and breakout structure; further confirmation might come from candlestick patterns or indicators like RSI/volume.
Timeframe: 4H (4-hour)
Pair: USD/JPY
Current Price: ~143.29
Key Elements Identified:
1. Entry Point: Around the current price zone (143.29) following a bullish structure and breakout pattern.
2. Target 1: 145.831 – this likely represents a nearby resistance level and first take-profit area.
3. Target 2: 147.775 – a further resistance zone and the final take-profit.
4. Stop Loss: Just below the recent swing low (~140.85), protecting the position in case of a trend reversal.
5. Structure: The chart shows a higher low being formed, indicating a potential trend reversal or continuation of bullish momentum.
6. Projection: A strong bullish move toward Target 1, possibly followed by a correction and another leg up to Target 2.
Strategy Summary:
Risk-Reward Ratio: Appears favourable based on stop-loss and target zones.
Confirmation: Entry likely based on price action and breakout structure; further confirmation might come from candlestick patterns or indicators like RSI/volume.
Trade active
Target 1: hit 145.831
FOREX MARKET ANALYSIS AND IDEAS
8 YEARS EXPERIENCE IN THIS FIELD
8 YEARS EXPERIENCE IN THIS FIELD
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.
FOREX MARKET ANALYSIS AND IDEAS
8 YEARS EXPERIENCE IN THIS FIELD
8 YEARS EXPERIENCE IN THIS FIELD
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.