USDJPY IN A STRONG UPTREND BUY BUY
Updated
If you've checked my previous ideas I have been using moving averages combined with the Session volume profile and so far the results have been accurate. As to the USDJPY pair this alert is a bit late and delayed since I didn't notice it earlier. The price crossed the Point of Control line of the Session volume Profile at 135.103 and pushed up rapidly showing the bulls were in control. The pair is currently consolidating at the 136 range and my prediction is that it will push higher. This has been supported by various moving averages both long terms and short term. In addition to this the higher time frames show a strong up trend. The Session Volume profile also indicates that the bulls are in control and the uptrend is inevitable. Entry point should be 136.400 which is above the consolidation point so as to catch the price when it slingshots past the the consolidation zone. For stoploss I suggest a trailing stop loss since I noticed this move a bit late I am not sure how long it will last. Instead you can target 20 pips.
Note
As you can see in the chart my analysis was pinpoint accurate and if you traded you would have got 20 pips easily.
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.