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USD/JPY Potential Upward Movement

USD/JPY Long-Term Trend: Bullish

Key Resistance Levels: 145.62, 146.29, 146.65

Key Support Levels: 144.39, 143.93, 143.21

Daily Chart:

The price on the higher time frame has been in an uptrend for quite some time and it has recently done a pullback. It found small support at the 141.41 level and has tested it a few times and bounced back which indicates a bullish bias.  

USD/JPY Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. The price has been trading in a consolidation zone of 143.93 and 144.39 for some time after showing a good bullish run. It has now broken and retested the trading level of 144.39 before continuing the momentum.

Signal Idea:

Buy Stop Order @ 144.93

TP 1 @ 145.56

TP 2 @ 146.51

Stop Loss @ 144.30

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.

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