USD/JPY Long Trade Setup – Key Support Rebound Targeting 148.674
Entry Point:
Price: 143.373
The chart suggests initiating a long (buy) position at this level, which is just slightly below the current market price.
Stop Loss:
Price: 141.707
Positioned below a strong support zone. This level protects the trade from excessive downside risk if the price breaks down.
Target Point:
Price: 148.674
The target is clearly defined, indicating a potential gain of approximately 5.991 points, or 4.20% from the entry.
🟪 Support/Resistance Zones
The purple boxes indicate demand (support) and supply (resistance) zones.
The lower zone (entry/stop area) shows a historically significant support range that has been tested multiple times (indicated with orange circles).
The upper purple zone marks the take-profit area, which coincides with previous resistance.
📊 Moving Averages
Blue Line: 200 EMA (Exponential Moving Average) – acting as dynamic resistance.
Red Line: 50 EMA – price is currently trading below it, indicating bearish short-term pressure but potential for reversal.
🧠 Trade Idea Summary
Bias: Bullish (long position)
Risk-Reward Ratio: Favorable
Risk: ~1.67 points (from 143.373 to 141.707)
Reward: ~5.3 points (from 143.373 to 148.674)
Approx. R:R = 1:3.17
Validation: The setup relies on the price holding the key support zone and bouncing higher, targeting the next major resistance.
⚠️ Considerations
Monitor for bullish candlestick patterns near the entry zone.
Keep an eye on macroeconomic news (like BoJ or Fed updates) that could cause volatility in USD/JPY.
Confirm momentum shift with RSI or MACD if using indicators.
Price: 143.373
The chart suggests initiating a long (buy) position at this level, which is just slightly below the current market price.
Stop Loss:
Price: 141.707
Positioned below a strong support zone. This level protects the trade from excessive downside risk if the price breaks down.
Target Point:
Price: 148.674
The target is clearly defined, indicating a potential gain of approximately 5.991 points, or 4.20% from the entry.
🟪 Support/Resistance Zones
The purple boxes indicate demand (support) and supply (resistance) zones.
The lower zone (entry/stop area) shows a historically significant support range that has been tested multiple times (indicated with orange circles).
The upper purple zone marks the take-profit area, which coincides with previous resistance.
📊 Moving Averages
Blue Line: 200 EMA (Exponential Moving Average) – acting as dynamic resistance.
Red Line: 50 EMA – price is currently trading below it, indicating bearish short-term pressure but potential for reversal.
🧠 Trade Idea Summary
Bias: Bullish (long position)
Risk-Reward Ratio: Favorable
Risk: ~1.67 points (from 143.373 to 141.707)
Reward: ~5.3 points (from 143.373 to 148.674)
Approx. R:R = 1:3.17
Validation: The setup relies on the price holding the key support zone and bouncing higher, targeting the next major resistance.
⚠️ Considerations
Monitor for bullish candlestick patterns near the entry zone.
Keep an eye on macroeconomic news (like BoJ or Fed updates) that could cause volatility in USD/JPY.
Confirm momentum shift with RSI or MACD if using indicators.
Trade active
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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.
Join my telegram (COPY_TRADE)
t.me/TOP1INVEESTADMEN
Join my refrel broker link
one.exnesstrack.org/a/l1t1rf3p6v
t.me/TOP1INVEESTADMEN
Join my refrel broker link
one.exnesstrack.org/a/l1t1rf3p6v
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.