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Gold-Tech
Aug 11, 2023 10:13 AM

💱USDJPY - Bounce from the level before resistance breakout  Long

U.S. Dollar/Japanese YenFXCM

Description

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USDJPY is testing the resistance of the ascending channel and the resistance of the 144.897 range. On the local timeframe, the price is preparing for a breakout and further growth

TA on the high timeframe:
1) A retest after a month, and a quick approach to the level may give a bounce down, for example to 143.7
2) Price has stopped and is forming a decrease in volatility, most likely the consolidation phase begins, another retest of resistance may follow.

TA on the low timeframe:
1) Price is sandwiched between rising resistance and rising support line, but at a less acute angle.
2) Buyers continue to make an onslaught on the resistance
3) The price may break the resistance after the next retest.

Key support📉: 144.3, 143.7
Key resistance📈: 144.69, 144.89
Comments
FirstNameHelen
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Well, if you say so about USDJPY, its probably true, agreed
LegionQ8
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awesome USDJPY idea mate, thanks for sharing
FieryTrading
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Good perspective🔥
ArmanShabanTrading
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excellent analysis!
P_S_trade
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Thanks for sharing your vision
melikatrader94
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Interesting insight
RLinda
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Very good rationale for the idea. I even left some notes from it on my chart. Thanks, for your perspective, friend!
Gold-Tech
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Hi! Do u agree with me? Share your opinion ;)
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