USDJPY - Already Over-Sold!

Apr 17

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

📈USDJPY has been overall bearish trading within the falling wedge pattern marked in blue and it is currently hovering around the lower bound of it.

Moreover, the orange zone is a strong weekly support.

🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of support and lower blue trendline acting as a non-horizontal support.

📚 As per my trading style:
As #USDJPY approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich

Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.

Apr 25

Trade active