Last time we looked at the USDJPY pair (May 22, see chart below), it gave us a solid buy signal at the bottom of its Channel Up:
Since then the price got rejected on Resistance 1 (161.950), forming a Diverging Higher Highs trend-line and pulled back below the 1D MA50 (blue trend-line) and at the bottom of the (blue) 7-month Channel Up.
Once the price breaks above the 1D MA50 and better yet the 1D RSI breaks above its MA period (yellow), we will have a new buy opportunity at our hands as in the past 4 occasions that has taken place, it was the absolute bullish break-out confirmation.
If it does again, we will buy and target 163.000 (contact with Diverging Higher Highs trend-line).
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Since then the price got rejected on Resistance 1 (161.950), forming a Diverging Higher Highs trend-line and pulled back below the 1D MA50 (blue trend-line) and at the bottom of the (blue) 7-month Channel Up.
Once the price breaks above the 1D MA50 and better yet the 1D RSI breaks above its MA period (yellow), we will have a new buy opportunity at our hands as in the past 4 occasions that has taken place, it was the absolute bullish break-out confirmation.
If it does again, we will buy and target 163.000 (contact with Diverging Higher Highs trend-line).
-------------------------------------------------------------------------------
** 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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👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
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.