On the H4 timeframe, USDJPY is maintaining a fairly clear upward structure as the price continuously follows the ascending trendline and remains within the upward channel. After each short correction, buying pressure reappears around the dynamic support zone, indicating that buyers are still in control of the main movement.
Currently, the 160.16 area is the nearest support to watch. If the price holds this area and continues to create higher lows, USDJPY could extend its upward movement towards the 160.63 area, which is also a short-term psychological resistance zone.
Regarding news, the USD still has the advantage as the market awaits US CPI data and the Fed has not yet given clear reasons to ease monetary policy. However, since the price has approached the sensitive area around 160, it is not advisable to chase the price too high.
Suggested strategy:
BUY around 160.16 – 160.25 if the trendline holds.
SL: below 159.95
TP: 160.63
Currently, the 160.16 area is the nearest support to watch. If the price holds this area and continues to create higher lows, USDJPY could extend its upward movement towards the 160.63 area, which is also a short-term psychological resistance zone.
Regarding news, the USD still has the advantage as the market awaits US CPI data and the Fed has not yet given clear reasons to ease monetary policy. However, since the price has approached the sensitive area around 160, it is not advisable to chase the price too high.
Suggested strategy:
BUY around 160.16 – 160.25 if the trendline holds.
SL: below 159.95
TP: 160.63
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LEVEL UP YOUR TRADING
👉t.me/+NBWGUpNcAxsyYjRl
Signals & setups to boost your edge
Free trading plans to follow
Real-time market insights
👉t.me/+NBWGUpNcAxsyYjRl
Signals & setups to boost your edge
Free trading plans to follow
Real-time market insights
Похожие публикации
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.