USDJPY - Still Bullish Long-term 📈
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Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
As per my last analysis (attached on the chart), USDJPY rejected the $160 resistance and traded lower.
What's next?
📈 USDJPY is still overall bullish, trading inside the rising channel in red.
At present, USDJPY is undergoing a correction phase and it is currently approaching the lower bound of the channel.
Moreover, it is retesting a previous major high marked in green.
🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the green zone and lower red trendline acting as a non-horizontal support.
📚 As per my trading style:
As #USDJPY is hovering around the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
As per my last analysis (attached on the chart), USDJPY rejected the $160 resistance and traded lower.
What's next?
📈 USDJPY is still overall bullish, trading inside the rising channel in red.
At present, USDJPY is undergoing a correction phase and it is currently approaching the lower bound of the channel.
Moreover, it is retesting a previous major high marked in green.
🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the green zone and lower red trendline acting as a non-horizontal support.
📚 As per my trading style:
As #USDJPY is hovering around the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
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Trading Made Simple; and Rule-Based
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RichTL.com
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
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