4-hr USD/JPY: Is This an Opportunity for 160 Pip Jump
USD/JPY has resumed its uptrend, gaining over 500 pips in the past 10 days, with bulls firmly in control. This is confirmed by the Golden Cross, a strong buy signal. If USD/JPY breaks above 154.50, the pair could test the 156 zone. However, after such a significant rally, early buyers may soon take profits, leading to short-term pullbacks. Upward momentum has slowed since yesterday, so we plan to wait for a correction before entering buy trades.
The area around 152.80 appears to be a potential support zone, as it aligns closely with the key 38% Fibonacci retracement level. Dip buyers who follow the ongoing uptrend could secure a favorable risk-to-reward ratio and potentially ride a rally of over 160 pips from this level.
The area around 152.80 appears to be a potential support zone, as it aligns closely with the key 38% Fibonacci retracement level. Dip buyers who follow the ongoing uptrend could secure a favorable risk-to-reward ratio and potentially ride a rally of over 160 pips from this level.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.