USDJPY (10W) High Timeframe Analysis
Position Trader's Opportunity
The USDJPY pair is currently trending upwards in the long-term. However, in the short-term, we're seeing potential for a downward correction towards the significant support level of 134.51.
Key Levels to Watch:
Trading Strategy:
The USDJPY pair is currently trending upwards in the long-term. However, in the short-term, we're seeing potential for a downward correction towards the significant support level of 134.51.
Key Levels to Watch:
- PIVOT HIGH @ 204.75
- SLO2 @ 198.36 โณResistance, major
- SLO1 @ 185.44 โณ
- TP4 @ 178.91
- TP3 @ 155.40
- TP2 @ 140.15
- Support, major @ 134.51
- TP1 @ 118.20
- Pivot Low @ 75.565
Trading Strategy:
- A cautious approach is recommended.
- While the long-term trend remains bullish, it's crucial to be aware of the potential for a short-term pullback.
- ๐Holding a long position above 185.44 is HIGH-RISK (the Supply Zone).
- ๐If the price breaks and closes below 152.16, it could signal a stronger downward trend.
- ๐ During the downtrend expect the possibility of Price Action reaching Support @ 1.3451
Professor C. E. Ward
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.
Professor C. E. Ward
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.