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USD/JPY Potential Upward Movement

USD/JPY Long-Term Trend: Bullish

Key Resistance Levels: 156.106, 156.982, 158.325

Key Support Levels: 153.340, 151.392, 149.578

Daily Chart:

The price on the higher time frame has recently been in an uptrend. It bounced back after testing a support level of 141.520 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 broke a key level of 151.392 and has sustained above that. As of now the pair has formed a demand zone we expect a retest of this zone before continuing the momentum.

Signal Idea:

Buy Limit Order @ 154.537

TP @ 155.976

Stop Loss @ 153.100

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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