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USD/JPY Potential Upward Movement

USD/JPY Long-Term Trend: Bullish

Key Resistance Levels: 149.505, 149.893, 150.652

Key Support Levels: 148.241, 147.690, 147.089

Daily Chart:

The price on the higher time frame has recently been in an uptrend after it tested a major support level of 140.821 and bounced back. The pair has continued to break a few resistance levels which suggests further trend continuation.

USD/JPY Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair is moving in the major trend’s direction. It recently broke a consolidation zone of 147.089 and 147.690 with good momentum. As of now the pair has broken and retested a minor level of 148.241 before continuing the momentum. 

Signal Idea:

Buy Limit Order @ 148.772

TP @ 149.363

Stop Loss @ 148.181

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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