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Usdjpybuysetup

USDJPY Short Term Buy Trading PlanM15 - Strong bullish momentum followed by a pullback No opposite signs Expecting bullish continuation until the two Fibonacci support zones hold. If you enjoy this idea, don’t forget to LIKE 👍, FOLLOW ✅, SHARE 🙌, and COMMENT ✍! Drop your thoughts and charts below to keep the discussion going. Your support helps keep this content free and reach more people! 🚀 -------------------------------------------------------------------------------------------------------------------- Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
Long
by VladimirRibakov
USD/JPY 1H Chart AnalysisChannel Formation: The pair is trading within an ascending channel, with clear upper and lower trendlines providing strong resistance and support levels, respectively. Current Price: The price is currently around 143.71, after a slight pullback from the top of the channel. Support and Resistance Levels: Immediate Resistance lies around the upper boundary of the channel near 144.00. Immediate Support can be seen along the lower boundary of the channel, around 143.00. Potential Scenarios: If the price maintains its position within the channel, we could expect a rebound from the current level toward the upper boundary at 144.00 or beyond. However, if the price breaks below the lower trendline, we could see a bearish reversal targeting levels near 142.50-142.00. Volume: The current volume seems average, without any significant spike, which indicates the move may not yet have strong momentum for a breakout. Technical Indicators Suggestion: Keep an eye on oscillators like RSI or MACD for potential overbought or oversold signals. If RSI is around the overbought region, the pullback could continue further.
Long
by LegacyTrendX