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 β³Resistance, major
- SLO1 @ 185.44 β³
- 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.
- πHolding a long position above 185.44 is HIGH-RISK (the Supply Zone).
- πIf the price breaks and closes below 152.16, it could signal a stronger downward trend.
- π During the downtrend expect the possibility of Price Action reaching Support @ 1.3451
Professor C. E. Ward
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