USD/JPY 4H chart analysis, (Must read caption)...

14 janv.

Hello trading view family what are your opinions about this share your thoughts in comment section and thanks for your support.

This chart analysis made by me depicts the USD/JPY currency pair on a 4-hour timeframe, provided by OANDA. It shows an upward trending channel with price action respecting the channel's boundaries.

Key details include:
1. Current Price Level: USD/JPY is trading around 157.520.

2. Channel Trend: The price has been moving within an ascending channel, with higher highs and higher lows.

3. Target Zone: A highlighted area above the current price suggests a target nearing 159.640. An arrow indicates the potential continuation of the bullish trend toward this level.

4. Support and Resistance:
A red zone marks a resistance level above the current price.

A green zone highlights a support level just below, around 157.086.

5. Supertrend Indicator: A green Supertrend line is displayed, suggesting bullish momentum remains intact.

6. Projection: The chart hints at the possibility of a pullback toward the support zone before resuming its upward move to the target.

This setup indicates a bullish bias, with a likely breakout if the price sustains within the channel.

Key levels;
Entry: 157.500-157.300
Target at: 158.200
SL at: 156.800

Support me guys and like comment if you found this helpful.

15 janv.

Trade fermée: cible de profit atteinte

first we hit our target then market came down