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USD/JPY Sideways Channel in Focus – Buckle Up for Breakout!

Key Resistance Levels: 109.75, 110.02, 110.44

Key Support Levels: 108.89, 108.62, 108.19

Daily Chart:

The USD/JPY is trading bullish at 109.550 level, maintaining a tight trading range of 109.829 – 109.400 level. The safe-haven currency pair USD/JPY is facing immediate resistance at 109.820 along with a support level of 109.400. The recent formation of series of Doji and Shooting Star candles on the 4-hour timeframe are demonstrating indecision among investors. Release of any high impact even is likely to trigger sharp buying or selling in the USD/JPY. On the lower side, a bearish breakout of 109.400 support can lead the pair towards 109.037. Conversely, the bullish breakout of 108.820 level may drive buying until 110.450 and 110.850.

USD/JPY Medium-Term Trend: Bullish

1-Hour Chart:

The USD/JPY pair is maintaining a tight trading range of 109.829 – 109.400 level. We are setting up a sell stop order below 109.430 to target 109.013 level along with a buy stop order at 109.850 We expect a breakout to the lower and a rally all the way down to the target profit.

Signal Idea: Sell Stop

Sell Stop Order @ 109.430

TP 1 @ 109.013

TP 2 @ 108.385

Stop Loss @ 109.650

Signal Idea: Buy Stop

Buy Stop Order @ 109.850

TP 1 @ 110.550

TP 2 @ 110.950

Stop Loss @ 109.450

Trade Safely 🙂

About Ali B.

Live Webinar Speaker & Derivatives (Forex, Commodities, and Indices) Analyst with the broad range of skills for evaluating financial data. Expert in investment trends, technical analysis, fundamental analysis, market sentiments, and trading psychology.


  1. Please sir, I want to start this trade but I don’t know where to start

  2. It’s an amazing trade sir🙃❣️🔥

  3. Should we delete the buy stop since the sell stop triggerex?

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