The USDJPY pair is trading within a Channel Down since the start of the year but following the April 22 Low, it has been rising on Higher Lows. Today that trend-line was tested and again produced a rebound (so far).
Since the April 22 Low was very close to the 139.600 Support (from the September 16 2024 Low), there are higher probabilities that we will have a trend change to bullish, at least for the medium-term.
The natural Resistance now is the 1D MA200 (orange trend-line), so we will target just below it at 148.675 (Resistance 1).
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Since the April 22 Low was very close to the 139.600 Support (from the September 16 2024 Low), there are higher probabilities that we will have a trend change to bullish, at least for the medium-term.
The natural Resistance now is the 1D MA200 (orange trend-line), so we will target just below it at 148.675 (Resistance 1).
-------------------------------------------------------------------------------
** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
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🤵Contact info@tradingshot.com t.me/tradingshot
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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.