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USD/JPY Potential Upward Movement

USD/JPY Long-Term Trend: Bullish

Key Resistance Levels: 0.92526, 0.92946, 0.93000.

Key Support Levels: 0.91958, 0.91754, 0.91000.

Daily Time Frame:

The price on the higher time frame is traded inside a parallel channel where now it is residing near the strong support level around the 0.91950 JPY mark. we expect that the market will be rejected from this are and pushed to the upside toward the resistance.

USD/JPY Medium-Term Trend: Bullish

1-Hr Time Frame:

On the lower time frame, the price failed to break the bespoke support where a consolidation has been posted under it. A lower correction could be seen to the highlighted zone before a new bullish impulsive wave toward the target profits.

Buy Limit Order @ 0.92008

TP 1 @ 0.92424

TP 2 @ 0.92526

Stop Loss @ 0.91814

Trade Safely 🙂

In many cases we manually use market orders instead of pending orders to trade the trading ideas we send you. This is higher risk, and you can decide if it suits your trading style.

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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