The USDJPY pair is testing the Rising Support from the January 15th Low for the first time since the February 2nd Low.
This is a standard case of breakout trading.
The price has been under the MA50 (4h) for 2 weeks.
Trading Plan:
1. Buy as long as the Rising Support holds.
2. Sell if the Rising Support breaks (i.e. closes a candle under it).
Targets:
1. 134.000 (Fibonacci 0.5 and MA200 (4h)).
2. 127.500 (Support (1)).
Tips:
1. The RSI (4h) is consolidating for the past 10 days. This shows loss of strength on the current trend, which means that a rebound might have a slight edge at the moment.
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This is a standard case of breakout trading.
The price has been under the MA50 (4h) for 2 weeks.
Trading Plan:
1. Buy as long as the Rising Support holds.
2. Sell if the Rising Support breaks (i.e. closes a candle under it).
Targets:
1. 134.000 (Fibonacci 0.5 and MA200 (4h)).
2. 127.500 (Support (1)).
Tips:
1. The RSI (4h) is consolidating for the past 10 days. This shows loss of strength on the current trend, which means that a rebound might have a slight edge at the moment.
Please like, follow and comment!!
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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 our private Telegram signals channel, with +70% accuracy for forex and crypto! 🎉
Also doing account management, earn +15% monthly profit!
👉CONTACT: t.me/tradingbrokersview
Stop gambling with your trades! 🎰
Start being profitable! 💰
Also doing account management, earn +15% monthly profit!
👉CONTACT: t.me/tradingbrokersview
Stop gambling with your trades! 🎰
Start being profitable! 💰
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.