USD/JPY on the 4-hour timeframe is currently testing a key resistance level. The recent low in price has established a support level, which suggests that we can see a short-term bullish momentum.
A break above the resistance level would be a buying signal if the strategy will be satisfied.
Traders should watch for a bullish candle such as a long green candle, which would confirm the breakout and further support at the bullish outlook.
A series of rising lows and equal highs can indicate that the price is building momentum to the upside.
This signals that buyers are becoming more aggressive and that the bulls are pushing the price higher. A break above the resistance level would indicate that a bullish short-term momentum can happen.
A break above the resistance level would be a buying signal if the strategy will be satisfied.
Traders should watch for a bullish candle such as a long green candle, which would confirm the breakout and further support at the bullish outlook.
A series of rising lows and equal highs can indicate that the price is building momentum to the upside.
This signals that buyers are becoming more aggressive and that the bulls are pushing the price higher. A break above the resistance level would indicate that a bullish short-term momentum can happen.
Comment:
no break yet