1. Current Market Conditions & Entry Setup:
Recent Price Action: Look for confirmation that USDJPY is in a bullish phase. If the pair has recently broken through resistance or is trending higher, a 100-pip move upwards is more likely.
Support and Resistance Levels: Identify a key support level or price consolidation zone to enter the trade. For instance, if USDJPY is currently around 131.50, check if there’s a recent support level around 131.00 that could hold.
Trend Confirmation: Ensure that the price is consistently making higher highs and higher lows (bullish trend). This suggests continued upward movement, increasing the probability of a 100-pip move.
2. Technical Indicators:
RSI: Look for the RSI to be around 50-60, signaling room for upward movement without being overbought (i.e., avoiding an RSI reading above 70).
Moving Averages: The pair should be above key moving averages (e.g., 50-period or 200-period moving averages) to confirm the bullish sentiment.
MACD: A bullish crossover in the MACD can help confirm a potential upward move, especially if the MACD line is moving above the signal line.
Recent Price Action: Look for confirmation that USDJPY is in a bullish phase. If the pair has recently broken through resistance or is trending higher, a 100-pip move upwards is more likely.
Support and Resistance Levels: Identify a key support level or price consolidation zone to enter the trade. For instance, if USDJPY is currently around 131.50, check if there’s a recent support level around 131.00 that could hold.
Trend Confirmation: Ensure that the price is consistently making higher highs and higher lows (bullish trend). This suggests continued upward movement, increasing the probability of a 100-pip move.
2. Technical Indicators:
RSI: Look for the RSI to be around 50-60, signaling room for upward movement without being overbought (i.e., avoiding an RSI reading above 70).
Moving Averages: The pair should be above key moving averages (e.g., 50-period or 200-period moving averages) to confirm the bullish sentiment.
MACD: A bullish crossover in the MACD can help confirm a potential upward move, especially if the MACD line is moving above the signal line.
Trade closed: target reached
complete
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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.