USDJPY Moment of truth for the long-term bullish trend.

The USDJPY pair has been trading within a Channel Up since the October 17 2022 High and right now the current 1W candle is very close to its bottom (Higher Lows trend-line). This offers a low risk trading set-up.

Confirmed buy will be if the price breaks and closes a 1W candle above the 1W MA50 (blue trend-line), in which case our Target will be July's Resistance at 161.500 (similar to the 2023 Bullish Leg).

If on the other hand it breaks and closes a 1W candle below the Channel Up, turn short and target the 1W MA200 (orange trend-line) at 139.500.

-------------------------------------------------------------------------------

** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **

-------------------------------------------------------------------------------
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.

💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇

TradingShot

👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)

💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot

🔥New service: next X100 crypto GEMS!

Also on:

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.

TradingShot

Also on: