USD/JPY 4H chart analysis, (Must read caption)...
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This chart analysis made by me depicts the USD/JPY currency pair on a 4-hour timeframe, provided by OANDA. It shows an upward trending channel with price action respecting the channel's boundaries.
Key details include:
1. Current Price Level: USD/JPY is trading around 157.520.
2. Channel Trend: The price has been moving within an ascending channel, with higher highs and higher lows.
3. Target Zone: A highlighted area above the current price suggests a target nearing 159.640. An arrow indicates the potential continuation of the bullish trend toward this level.
4. Support and Resistance:
A red zone marks a resistance level above the current price.
A green zone highlights a support level just below, around 157.086.
5. Supertrend Indicator: A green Supertrend line is displayed, suggesting bullish momentum remains intact.
6. Projection: The chart hints at the possibility of a pullback toward the support zone before resuming its upward move to the target.
This setup indicates a bullish bias, with a likely breakout if the price sustains within the channel.
Key levels;
Entry: 157.500-157.300
Target at: 158.200
SL at: 156.800
Support me guys and like comment if you found this helpful.
This chart analysis made by me depicts the USD/JPY currency pair on a 4-hour timeframe, provided by OANDA. It shows an upward trending channel with price action respecting the channel's boundaries.
Key details include:
1. Current Price Level: USD/JPY is trading around 157.520.
2. Channel Trend: The price has been moving within an ascending channel, with higher highs and higher lows.
3. Target Zone: A highlighted area above the current price suggests a target nearing 159.640. An arrow indicates the potential continuation of the bullish trend toward this level.
4. Support and Resistance:
A red zone marks a resistance level above the current price.
A green zone highlights a support level just below, around 157.086.
5. Supertrend Indicator: A green Supertrend line is displayed, suggesting bullish momentum remains intact.
6. Projection: The chart hints at the possibility of a pullback toward the support zone before resuming its upward move to the target.
This setup indicates a bullish bias, with a likely breakout if the price sustains within the channel.
Key levels;
Entry: 157.500-157.300
Target at: 158.200
SL at: 156.800
Support me guys and like comment if you found this helpful.
Trade closed: target reached
first we hit our target then market came down 
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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.