SMC trading point update
Technical analysis of USD/JPY (U.S. Dollar vs Japanese Yen) on the 1-hour timeframe. Here's a clear breakdown of the idea presented:
---
Overview of the Setup
Current Price: 144.620
EMA 200 (Blue Line): 144.973 – price is trading below the EMA, indicating bearish momentum.
Resistance Zone: Around 145.000 – 145.500
Support/Target Zone: Around 142.799
RSI Indicator: ~51.11 – neutral zone (not overbought or oversold)
---
Interpretation of Chart Structure
1. Resistance Level:
Price tested the resistance zone and sharply rejected it.
This zone has held multiple times historically, making it strong.
2. EMA 200 as Resistance:
Price rejected just under the EMA, further confirming downside pressure.
3. Bearish Flag / Rising Wedge Breakdown:
There is a visible bearish continuation pattern (likely a rising wedge or bear flag).
Price is projected to break down from this pattern, continuing the downtrend.
4. Measured Move Projection:
Previous drop of ~230 pips (-1.5%) is mirrored for the next expected move.
The same size move projects the price to reach the target zone around 142.799.
5. Support/Target Zone:
Marked as the final take-profit zone.
Corresponds with historical demand and likely buyer interest.
---
Trade Idea Summary
Bias: Bearish
Entry Idea: After breakdown confirmation below wedge structure or rejection from resistance zone.
Target: 142.799
Stop-Loss Consideration: Above the resistance zone (~145.500) or just above the recent swing high.
Confirmation: Breakdown of rising wedge + below EMA + repeated resistance rejections.
Mr SMC Trading point
---
Key Considerations
Upcoming News Events (Three Icons):
These symbols signal potential USD or JPY volatility, so watch out for data releases that could disrupt the pattern.
RSI Neutral:
RSI is not yet oversold, allowing room for more downside before hitting exhaustion levels.
False Breakouts Possible:
Price may fake a break upward before continuing lower – wait for strong candle confirmation if entering a trade.
plesse support boost 🚀 this analysis)
Technical analysis of USD/JPY (U.S. Dollar vs Japanese Yen) on the 1-hour timeframe. Here's a clear breakdown of the idea presented:
---
Overview of the Setup
Current Price: 144.620
EMA 200 (Blue Line): 144.973 – price is trading below the EMA, indicating bearish momentum.
Resistance Zone: Around 145.000 – 145.500
Support/Target Zone: Around 142.799
RSI Indicator: ~51.11 – neutral zone (not overbought or oversold)
---
Interpretation of Chart Structure
1. Resistance Level:
Price tested the resistance zone and sharply rejected it.
This zone has held multiple times historically, making it strong.
2. EMA 200 as Resistance:
Price rejected just under the EMA, further confirming downside pressure.
3. Bearish Flag / Rising Wedge Breakdown:
There is a visible bearish continuation pattern (likely a rising wedge or bear flag).
Price is projected to break down from this pattern, continuing the downtrend.
4. Measured Move Projection:
Previous drop of ~230 pips (-1.5%) is mirrored for the next expected move.
The same size move projects the price to reach the target zone around 142.799.
5. Support/Target Zone:
Marked as the final take-profit zone.
Corresponds with historical demand and likely buyer interest.
---
Trade Idea Summary
Bias: Bearish
Entry Idea: After breakdown confirmation below wedge structure or rejection from resistance zone.
Target: 142.799
Stop-Loss Consideration: Above the resistance zone (~145.500) or just above the recent swing high.
Confirmation: Breakdown of rising wedge + below EMA + repeated resistance rejections.
Mr SMC Trading point
---
Key Considerations
Upcoming News Events (Three Icons):
These symbols signal potential USD or JPY volatility, so watch out for data releases that could disrupt the pattern.
RSI Neutral:
RSI is not yet oversold, allowing room for more downside before hitting exhaustion levels.
False Breakouts Possible:
Price may fake a break upward before continuing lower – wait for strong candle confirmation if entering a trade.
plesse support boost 🚀 this analysis)
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Related publications
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.
(Services:✔️ JOIN Telegram channel
#Gold trading ★Analysis★ 📊
Gold trading signals 🚀 99%
t.me/SmcTradingPoin
Join my recommended broker , link 👇
World best broker exness ✅D
one.exnesstrack.org/a/l1t1rf3p6v
#Gold trading ★Analysis★ 📊
Gold trading signals 🚀 99%
t.me/SmcTradingPoin
Join my recommended broker , link 👇
World best broker exness ✅D
one.exnesstrack.org/a/l1t1rf3p6v
Related publications
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.