TREND CONTINUATION TRADE FOR UPCOMING WEEK - USDJPY - LONG
SEE PICS BELOW FOR FULL VIEW!
DAILY CHART
- price in a uptrend
- making higher highs and higher lows
- price broke out of a little consolidation phase and broke to the upside
- price not broken below 112.030 which is the next support level
4 HOUR CHART
- price in a uptrend (confluence with daily chart)
- short term downtrend on 4 hour chart but not made a lower low
- 112.800 level is holding to stop the lower low happen
- 112.800 level nice phycological number has held as S/R in the past multiple times
- possible entry from this level
1 HOUR CHART
- price in a uptrend (3 timeframe confluence)
- price already moving away from 112.800 level
- possible double bottom for entry
TARGETS
- TP1 113.354
- TP2 113.697
DAILY CHART
- price in a uptrend
- making higher highs and higher lows
- price broke out of a little consolidation phase and broke to the upside
- price not broken below 112.030 which is the next support level
4 HOUR CHART
- price in a uptrend (confluence with daily chart)
- short term downtrend on 4 hour chart but not made a lower low
- 112.800 level is holding to stop the lower low happen
- 112.800 level nice phycological number has held as S/R in the past multiple times
- possible entry from this level
1 HOUR CHART
- price in a uptrend (3 timeframe confluence)
- price already moving away from 112.800 level
- possible double bottom for entry
TARGETS
- TP1 113.354
- TP2 113.697