USD/JPY LONG(BUY) IDEA
USD/JPY is a recommended BUY — Ascending triangle breakout(if price breaks below triangle pattern — pattern is invalid) —1hr timeframe
Overlays
- Trend line — 134.388
- Fibonacci Level 61.8% — 133.681
- Fibonacci Level 50% — 133.434
- MA30 level — 134.106
- MA60 level — 133.836 (perfect pullback to triangle support level)
Sub indicators
- Stoch RSI ( is in oversold territory - moving averages are in oversold territory - neutral slop )
- Chaikin Money Flow ( indicates participants are participating in the accumulation phase and shows strength in upward movement by staying above mid-point level )
Analysis
- Daily timeframe still have some bullish momentum according to sub indicators but close to overbought conditions
- 2hr timeframe shows a strong buy, possible breakout and strong accumulation on the money flow indicator
- 1hr timeframe technical analysis is displayed and possible entry points are listed above.
Overlays
- Trend line — 134.388
- Fibonacci Level 61.8% — 133.681
- Fibonacci Level 50% — 133.434
- MA30 level — 134.106
- MA60 level — 133.836 (perfect pullback to triangle support level)
Sub indicators
- Stoch RSI ( is in oversold territory - moving averages are in oversold territory - neutral slop )
- Chaikin Money Flow ( indicates participants are participating in the accumulation phase and shows strength in upward movement by staying above mid-point level )
Analysis
- Daily timeframe still have some bullish momentum according to sub indicators but close to overbought conditions
- 2hr timeframe shows a strong buy, possible breakout and strong accumulation on the money flow indicator
- 1hr timeframe technical analysis is displayed and possible entry points are listed above.
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.
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.