Good morning traders, today we bring you our analysis in USD/JPY, since we consider that it is in an interesting demand zone and we must take it into account.
🔸The price broke the Descending Trendline with great momentum, but faced a Supply Zone where it began to pull-back.
🔸Now, it is retesting a support zone, where, if we analyze past scenarios, there was always some kind of reaction or rebound.
🔸Therefore, we expect a rejection of this zone in the short term, and possibly the bullish continuation.
🔸We recommend waiting for a reversal signal before considering any trade.
🔸The price broke the Descending Trendline with great momentum, but faced a Supply Zone where it began to pull-back.
🔸Now, it is retesting a support zone, where, if we analyze past scenarios, there was always some kind of reaction or rebound.
🔸Therefore, we expect a rejection of this zone in the short term, and possibly the bullish continuation.
🔸We recommend waiting for a reversal signal before considering any trade.
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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.
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.