Hello traders,
USDJPY has recently broken out of a descending channel on the 2H timeframe, and things are starting to look interesting from a bullish perspective
Key Observations:
Descending Channel Broken: The pair traded within a clean downward channel for weeks but has now broken above the resistance trendline
Retest Zone: We could see a minor pullback toward the breakout area before continuing higher this would be a healthy confirmation.
Resistance Levels to Watch
144.60 – First significant resistance
147.08 and 148.18 – Potential upside targets if momentum continues
This breakout could signal a trend shift, and bulls might step in to drive price toward the 147–148 zone However it's important to wait for a solid retest and confirmation before entering long positions
Possible Scenario: A short-term dip to retest the breakout zone followed by a push toward 147.00+
USDJPY has recently broken out of a descending channel on the 2H timeframe, and things are starting to look interesting from a bullish perspectiveKey Observations:
Descending Channel Broken: The pair traded within a clean downward channel for weeks but has now broken above the resistance trendline
Retest Zone: We could see a minor pullback toward the breakout area before continuing higher this would be a healthy confirmation.
Resistance Levels to Watch
144.60 – First significant resistance
147.08 and 148.18 – Potential upside targets if momentum continues
This breakout could signal a trend shift, and bulls might step in to drive price toward the 147–148 zone However it's important to wait for a solid retest and confirmation before entering long positions
Possible Scenario: A short-term dip to retest the breakout zone followed by a push toward 147.00+
Trade active
Note
400pips runnTrade closed: target reached
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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.
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.