USDJPY 100PIP MOVE TO THE HIGH
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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