USDJPY Bullish Trend
Updated
USDJPY has formed a new Bullish Trend on an Hourly Timeframe. Currently, it is consolidating around a significant Support Level and a newly formed resistance.
A cross above our Resistance and a retest ( Bullish engulfing candlestick ) will confirm that the Buyers are still in control, and we shall enter buys with the possibility of swinging them, but the safe Take Profit will be 149.100 and the safe Stop Loss will be the recent Higher Low targetting 1:3 RR.
A cross below our Support and a retest (Bearish engulfing candlestick) will confirm that the Sellers want to regain power and we shall enter sells only Scalp Trades with the Take Profit being around 144.000 and Stop Loss being the recent Lower High targetting 1:3 RR.
IF NO ENTRY CONFIRMATION IS PRESENTED, THEN NO TRADE SHALL BE TAKEN.
A cross above our Resistance and a retest ( Bullish engulfing candlestick ) will confirm that the Buyers are still in control, and we shall enter buys with the possibility of swinging them, but the safe Take Profit will be 149.100 and the safe Stop Loss will be the recent Higher Low targetting 1:3 RR.
A cross below our Support and a retest (Bearish engulfing candlestick) will confirm that the Sellers want to regain power and we shall enter sells only Scalp Trades with the Take Profit being around 144.000 and Stop Loss being the recent Lower High targetting 1:3 RR.
IF NO ENTRY CONFIRMATION IS PRESENTED, THEN NO TRADE SHALL BE TAKEN.
Trade active
USDJPY IS Active for Sells
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