USDJPY - Still Bullish Long-term 📈

6 Mei 2024

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

As per my last analysis (attached on the chart), USDJPY rejected the $160 resistance and traded lower.

What's next?

📈 USDJPY is still overall bullish, trading inside the rising channel in red.

At present, USDJPY is undergoing a correction phase and it is currently approaching the lower bound of the channel.

Moreover, it is retesting a previous major high marked in green.

🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the green zone and lower red trendline acting as a non-horizontal support.

📚 As per my trading style:
As #USDJPY is hovering around the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich

8 Mei 2024

Trade aktif