The USD/JPY trend on the H4 chart is bearish, with a critical tu
Updated
---
H4 Chart Story
1. Bearish Trend Overview:
The bearish trend indicates downward momentum, with sellers exerting pressure. On the H4 chart, the pair might be forming lower highs and lower lows, consistent with the trend.
2. Turning Point - 125.400:
Below 125.400: A sustained move below this level confirms continued bearish momentum. Price may test lower support levels, potentially accelerating declines.
Above 125.400: A breakout above this level could signal a temporary shift in sentiment, possibly leading to a consolidation or a retracement to higher resistance zones.
3. Key Levels:
Resistance: Immediate resistance lies at 126.000 and 126.500, which could act as barriers to any upside movement.
Support: Watch for support levels near 124.800 and 124.000, aligning with bearish targets.
H4 Chart Story
1. Bearish Trend Overview:
The bearish trend indicates downward momentum, with sellers exerting pressure. On the H4 chart, the pair might be forming lower highs and lower lows, consistent with the trend.
2. Turning Point - 125.400:
Below 125.400: A sustained move below this level confirms continued bearish momentum. Price may test lower support levels, potentially accelerating declines.
Above 125.400: A breakout above this level could signal a temporary shift in sentiment, possibly leading to a consolidation or a retracement to higher resistance zones.
3. Key Levels:
Resistance: Immediate resistance lies at 126.000 and 126.500, which could act as barriers to any upside movement.
Support: Watch for support levels near 124.800 and 124.000, aligning with bearish targets.
Trade active
did you follow like this chart result is GoodOrder cancelled
That's excellent news! USD/JPY seems to be moving in your favor, and it's great that the trade is running profitably. Make sure to:
1. Trail Your Stop-Loss: Protect your profits by moving your stop-loss closer as the trade progresses.
2. Monitor Key Levels: Keep an eye on resistance or support zones that could trigger a reversal.
3. Stick to Your Plan: Exit at your pre-set target or adjust if the market shows strong momentum.
Let me know if you need insights on USD/JPY's current momentum or upcoming economic events that might impact it!
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.