The recent structure on USDJPY (4H chart) shows a bullish shift supported by a strong double bottom formation within a defined demand zone. After a clean impulse from the bottom, price is now consolidating below the key resistance.
🔹 Trade Idea:
I am patiently waiting for the price to break and close above 145.310 to confirm bullish continuation. Entry is valid only above this level to avoid false breakouts.
🔹 Technical Highlights:
- Price rebounded from a strong demand zone with a double bottom.
- A new bullish leg formed, approaching the 0.786 Fibonacci retracement level.
- A clear impulse-correction structure signals potential for further upside if resistance is broken.
🔹 Trade Plan:
- Buy Above: 145.310 (confirmation breakout)
- Stop Loss: 144.40 (below structure and 0.382 Fib)
- Target: 146.900 (aligned with 1.618–2.0 Fibonacci extension)
⚠️ Note: No trade if price fails to break and hold above the entry trigger. Patience is key.
🔹 Trade Idea:
I am patiently waiting for the price to break and close above 145.310 to confirm bullish continuation. Entry is valid only above this level to avoid false breakouts.
🔹 Technical Highlights:
- Price rebounded from a strong demand zone with a double bottom.
- A new bullish leg formed, approaching the 0.786 Fibonacci retracement level.
- A clear impulse-correction structure signals potential for further upside if resistance is broken.
🔹 Trade Plan:
- Buy Above: 145.310 (confirmation breakout)
- Stop Loss: 144.40 (below structure and 0.382 Fib)
- Target: 146.900 (aligned with 1.618–2.0 Fibonacci extension)
⚠️ Note: No trade if price fails to break and hold above the entry trigger. Patience is key.
Trade closed manually
USDJPY position closed 146.148 and 83.8pips profit 
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.
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.