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USD/JPY Potential Upward Movement

USD/JPY Long-Term Trend: Bullish

Key Resistance Levels: 127.15, 128.49, 129.77

Key Support Levels: 124.82, 123.46, 122.30

Daily Time-frame:

The price on the higher time frame has been showing a bullish momentum for a few months. We see that the price made a pullback to the 121.21 level after a good run and then bounced back from there. We expect further trend continuation.

USD/JPY Medium-Term Trend: Bullish

1-Hour Time-frame:

On the lower time frame, the price is moving in the major trend direction. The pair was in a small consolidation period and attempted to break to the downside but faced rejection. The price has now broken the upper range with good momentum.

Signal Idea:

Buy Limit Order @ 125.90

TP 1 @ 126.74

TP 2 @ 127.58

Stop Loss @ 125.06

Trade Safely 🙂

About Vipul Rathaur

A trader with more than six years of experience, Vipul is a discretionary trader and uses multi time frame analysis for his analysis and price action for his trade signals. Believes that risk management is the secret to making it in this world. He trades major Forex pairs, Indices, and Commodities.

3 comments

  1. Hi Vipul, is it true that this potential move upward did not hit limit order yet ? you gave us this signal idea when the price was 125.9 correct ? so it need to go down to hit limit order and then go back up ? ?

    • Hello!
      Yes, that is correct you’ll need to place a limit order at the exact price mentioned in the post and when the price reaches there the trade will be executed. All the trades are updated in the group when it gets executed.
      Have a good day.

  2. Hi Vipul, is it true that this potential move upward did not hit limit order yet ? you gave us this signal idea when the price was 125.9 correct ? so it need to go down to hit limit order and then go back up ?

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