USDJPY Technical Analysis: Support, Breakout, and Retest

USDJPY has recently exhibited a bullish breakout pattern, breaking above a key resistance level. This breakout, followed by a retest of the broken level, presents a potential buying opportunity for traders.
A clear support level has been identified at 155.200
The recent breakout occurred above a significant resistance level at 156.00
The price decisively broke above the resistance level, indicating a shift in market sentiment.
A subsequent retest of the broken resistance level (now acting as support) provides a potential entry point for buyers.
Stop-Loss: Place a stop-loss order below the recent swing low at 155.00 to manage risk.
Take-Profit: Set a take-profit target at 157.00 which could be a previous swing high or a key resistance level.
Disclaimer : This analysis is for informational purposes only and should not be considered financial advice. Trading involves significant risk, and you should carefully consider your investment objectives, risk tolerance, and financial situation before making any trading decisions.