USDJPY Technical Analysis – GTE VIP Buy Setup
Price tapped into key support around 142.29 and rejected strongly with a bullish engulfing on the 1H chart. This level has held as strong demand multiple times.
We entered a buy expecting price to break through the descending trendline, with confluence from stochastic oversold and bullish divergence building.
If momentum holds, we anticipate a breakout to 145.43 and beyond as clean traffic lies above.
Classic reversal play — support bounce + trendline breakout in progress.
Price tapped into key support around 142.29 and rejected strongly with a bullish engulfing on the 1H chart. This level has held as strong demand multiple times.
We entered a buy expecting price to break through the descending trendline, with confluence from stochastic oversold and bullish divergence building.
If momentum holds, we anticipate a breakout to 145.43 and beyond as clean traffic lies above.
Classic reversal play — support bounce + trendline breakout in progress.
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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.