On USD/JPY, we have a bullish setup following the breakout of the trendline at the level of 140.80. At that level, I have marked a potential entry point corresponding to the retest of the trendline, a demand zone, and an FVG (I'm not sure about the meaning of "FVG" in this context). Therefore, the objective is a long trade with a target at the level of 145, as we have an area with low trading volumes, and the price could rise rapidly, especially considering the Non-Farm Payrolls (NFP) data on Friday. Let me know what you think. Happy trading to everyone from Nicola, the CEO of Forex48 Trading Academy.
It really looks like a breakout... I think it's a chance to enter a short position, but your idea is also interesting! Let's see what happens)
Forex48_TradingAcademy
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@Hellena_Trade, Thanks, I appreciate it. We have a breakout of the bullish trendline, and in case of a re-test, we can enter long. I don't see a short setup at the moment. Could you explain better where the short setup is?