USD/JPY Trade Setup - Trendline play
I am currently looking to take a long position on USDJPY due to a 4 hour candle close above the trendline
Key Levels:
Entry Zone: 149.69 (aligned with 4-hour resistance and previous structure support).
Target: 150.72 (4-hour resistance).
Stop Loss: 149.22 (below daily support).
Reasoning:
Price has been consolidating after a strong bearish trend and has now closed above the downtrend line (red diagonal).
The entry zone coincides with strong confluence levels of resistance turned support.
Stop loss has been placed under the ascending trendline
Key Levels:
Entry Zone: 149.69 (aligned with 4-hour resistance and previous structure support).
Target: 150.72 (4-hour resistance).
Stop Loss: 149.22 (below daily support).
Reasoning:
Price has been consolidating after a strong bearish trend and has now closed above the downtrend line (red diagonal).
The entry zone coincides with strong confluence levels of resistance turned support.
Stop loss has been placed under the ascending trendline
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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.