USD/JPY: Short-Term Bullish Opportunity with Conservative Risk
Trade Setup:
Symbol: USD/JPY
Direction: LONG
Entry: 149.95
Stop Loss: 149.65
Target 1: 150.40
Target 2: 150.80
Risk:Reward: 1:1.5 (primary) / 1:2.8 (extended)
Analysis:
USD/JPY is showing signs of bullish momentum after consolidating near the 149.80 level. Price action on multiple timeframes indicates a potential upside break. The recent higher lows on the 15-minute chart, combined with decreasing bearish momentum on larger timeframes, create a favorable entry opportunity with controlled risk.
Strategy:
Enter long on a break above current consolidation, just below the key 150.00 psychological level. This conservative entry aims to catch the early momentum while maintaining tight risk parameters. The 30-pip stop loss protects capital while still respecting visible technical support levels.
Risk Management:
Move stop to breakeven after 20 pips of favorable movement. Consider splitting your position to secure profits at the first target while allowing the remainder to reach the extended target. Always be ready to exit if strong reversal patterns emerge, regardless of stop placement.
Key Levels to Watch:
150.00: Psychological resistance
150.40: First resistance target
150.80: Second resistance target
149.65: Key support level
Trade within your risk tolerance and adjust position sizing accordingly. Good luck!
Symbol: USD/JPY
Direction: LONG
Entry: 149.95
Stop Loss: 149.65
Target 1: 150.40
Target 2: 150.80
Risk:Reward: 1:1.5 (primary) / 1:2.8 (extended)
Analysis:
USD/JPY is showing signs of bullish momentum after consolidating near the 149.80 level. Price action on multiple timeframes indicates a potential upside break. The recent higher lows on the 15-minute chart, combined with decreasing bearish momentum on larger timeframes, create a favorable entry opportunity with controlled risk.
Strategy:
Enter long on a break above current consolidation, just below the key 150.00 psychological level. This conservative entry aims to catch the early momentum while maintaining tight risk parameters. The 30-pip stop loss protects capital while still respecting visible technical support levels.
Risk Management:
Move stop to breakeven after 20 pips of favorable movement. Consider splitting your position to secure profits at the first target while allowing the remainder to reach the extended target. Always be ready to exit if strong reversal patterns emerge, regardless of stop placement.
Key Levels to Watch:
150.00: Psychological resistance
150.40: First resistance target
150.80: Second resistance target
149.65: Key support level
Trade within your risk tolerance and adjust position sizing accordingly. Good luck!
Order cancelled
Since the Stop loss is where the setup is not valid, I canceled this trade. and looking at GPY/JPY instead
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.
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.