USDJPY H1: Bullish outlook seen, further upside above 134.500On the H1 time frame, prices are holding above an ascending channel and approaching the support zone at 134.500, in line with the 38.2% Fibonacci retracement and ascending channel’s support. This presents an opportunity to play the bounce to the next resistance target at 136.20. Prices are holding above the 50 EMA as well, supporting the bullish bias. Failure to hold above the 134.50 support zone could see prices push lower to the next support zone at 133.50.
Usdjpybullish
USDJPY Bull Continues Until 130.000+We have seen a nice leap in price since my last update, blowing past the resistance of 127.330 .
I am still bullish on USDJPY, but the price of 130.000 will be a big deciding factor. If the pairing continues past this price it will more than likely go onto to 134.000 . If not we may see some drops.
Current Trading Range based on April 2002 day chart
Entry: 128.650
TP: 129.000 | 129.200 | 129.600 | 129.800 | 130.000
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How I look at fast bullish runs USDJPYJust a bit of a look at how I trade these pairs when price is on a huge upside move. It can be very rewarding when you get entry's and straight into risk free but remember anything can happen and just cause price is looking so strong, we can get sell offs whenever... its better to be safe then lose.. risk amounts stay the same ALWAYS no matter how good a setup looks.
USDJPY - LONG
ALL ANALYSIS ARE MADE USING ONLY PRICE ACTION, NO INDICATORS. MULTIPLE TIMEFRAMES ARE INVOLVED BEFORE TAKING A TRADE.
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USDJPY: Near Strong Support Level....Important Levels to Note!!!USDJPY have tested this support level @107.10 price level and what we have seen is failure to reject this level. As we can see this led to 3 lower head forming. For now, I will be expecting to see a BULLISH movement to 108 price level. Definitely, a breakthrough in price level there is possible which I will update again.
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