U.S. Dollar / Japanese Yen
Long
Updated

USDJPY Pre-Breakout Setup – Eyes on 145.310 for Bullish Entry

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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 closed manually
USDJPY position closed 146.148 and 83.8pips profit

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