USDJPY (2H Timeframe) Analysis
Market Structure:
The price is trading within a channel pattern, respecting both support and resistance levels. Currently, it is near the upper boundary of the channel, indicating possible resistance.
Forecast:
Wait for a retest of the channel resistance before considering a sell position, as confirmation is required to validate a potential move downward.
Key Levels to Watch:
Entry Zone: After a retest and rejection from the upper boundary of the channel.
Risk Management:
Stop Loss: Placed above the channel resistance or recent swing high.
Take Profit: Target the midline or lower boundary of the channel for potential downside movement.
Market Sentiment:
The setup suggests a cautious bearish bias, but confirmation signals are needed before executing a trade.
Market Structure:
The price is trading within a channel pattern, respecting both support and resistance levels. Currently, it is near the upper boundary of the channel, indicating possible resistance.
Forecast:
Wait for a retest of the channel resistance before considering a sell position, as confirmation is required to validate a potential move downward.
Key Levels to Watch:
Entry Zone: After a retest and rejection from the upper boundary of the channel.
Risk Management:
Stop Loss: Placed above the channel resistance or recent swing high.
Take Profit: Target the midline or lower boundary of the channel for potential downside movement.
Market Sentiment:
The setup suggests a cautious bearish bias, but confirmation signals are needed before executing a trade.
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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.
✅ Discover my trading strategies signals educational resources 👇
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✅Join my recommended broker World best broker 👇
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t.me/+COYsInxWoMg1OTg8
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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.