USDJPY: Detailed Technical Outlook ๐บ๐ธ๐ฏ๐ต
https://www.tradingview.com/x/SkFqiv9j/
USDJPY is trading in a strong bullish trend on a daily.
Ahead, I see a solid horizontal resistance from where the market
may initiate a correctional movement.
Analyzing a price action on 4H time frame, I noticed that the pair started to slow down.
The price is currently trading within a rising channel.
To catch the initiation of a correctional movement, wait for a bearish breakout of the support of the channel. 4H candle close below that will confirm the violation. A bearish continuation will be expected then.
Alternatively, a bullish breakout of the underlined blue are will be a strong bullish signal.
โค๏ธPlease, support my work with like, thank you!โค๏ธ
USDJPY is trading in a strong bullish trend on a daily.
Ahead, I see a solid horizontal resistance from where the market
may initiate a correctional movement.
Analyzing a price action on 4H time frame, I noticed that the pair started to slow down.
The price is currently trading within a rising channel.
To catch the initiation of a correctional movement, wait for a bearish breakout of the support of the channel. 4H candle close below that will confirm the violation. A bearish continuation will be expected then.
Alternatively, a bullish breakout of the underlined blue are will be a strong bullish signal.
โค๏ธPlease, support my work with like, thank you!โค๏ธ
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