USDJPY: Great buy setup!
Good Morning,
As you can see from the chart USD/JPY has been in a downtrend on the daily following the bigger trend line, however it is currently on the up retracing back to the downward trend line within the upwards channel and so provides a great potential buy.
- Price is currently between two key S/R levels, I will wait for price to bounce off the upper resistance level, I will be looking to buy on a bounce off the support level below it.
- My goal TP is marked on the chart at 108.49 which is a key resistance level, it also matches up with the downward trend line well.
- If this TP is reached I will then wait to see whether price obeys the downward trend line or whether a breakout is on the cards.
Let me know what you think! if you have a different outlook I would love to hear it.
Thanks
As you can see from the chart USD/JPY has been in a downtrend on the daily following the bigger trend line, however it is currently on the up retracing back to the downward trend line within the upwards channel and so provides a great potential buy.
- Price is currently between two key S/R levels, I will wait for price to bounce off the upper resistance level, I will be looking to buy on a bounce off the support level below it.
- My goal TP is marked on the chart at 108.49 which is a key resistance level, it also matches up with the downward trend line well.
- If this TP is reached I will then wait to see whether price obeys the downward trend line or whether a breakout is on the cards.
Let me know what you think! if you have a different outlook I would love to hear it.
Thanks
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.