USD/JPY 4H – Short Setup at Upper Trend Channel Projection
USD/JPY is currently trading within a well-defined descending channel. Price is approaching the upper trend channel projection, a key area derived from parallel structure analysis. While this level has not been tested multiple times, it aligns with the broader bearish trend, making it a potential rejection zone.
If price fails to close above this projection on the 4H timeframe, a short position will be executed with a stop-loss above the recent highs. The initial target is the previous lows at 146.60, while the extended target is the lower trend channel trendline.
Watching for confirmation before entry.
USD/JPY is currently trading within a well-defined descending channel. Price is approaching the upper trend channel projection, a key area derived from parallel structure analysis. While this level has not been tested multiple times, it aligns with the broader bearish trend, making it a potential rejection zone.
If price fails to close above this projection on the 4H timeframe, a short position will be executed with a stop-loss above the recent highs. The initial target is the previous lows at 146.60, while the extended target is the lower trend channel trendline.
Watching for confirmation before entry.
Trade active
SL to break even.
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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.