SENDAI - Analysis on potential price movementY wave with target (E) within stipulated time.
The price has recently broken above the downtrend line.
Price is trading near the bottom edge of the Kumo which currently appears reddish (bearish), indicating a resistance area.
Tenkan Sen is above Kijun Sen, signaling a short-term bullish sentiment.
The Chikou Span is close to the price area, and a move above the cloud would further confirm bullish momentum.
Key support at 0.335.
Resistance levels are marked by the cloud and Fibonacci retracement levels near the 0.580–0.600 range.
Entry: Consider entering a long position around the current price 0.470 or on a minor retracement closer to 0.455–0.465.
Stop Loss: Place a stop loss below a recent support, ideally below 0.425–0.430 to protect against false breakouts.
Primary target at the Y wave completion near 0.580–0.600.
Note:
1. Analysis for education purposes only.
2. Trade at your own risk.
