USD JPY Trend breakout analysis Read The Chaptian!

Hello 👋 Traders USD JPY



Technical analysis of USD/JPY pair on a 2-hour timeframe, with technical indicators and annotations suggesting a possible trading opportunity. Here's a breakdown:

Key Elements:

1. Trend Analysis:

A downtrend 📉 was broken, suggesting potential trend reversal or bullish momentum 🚀.

Price broke above the downtrend line, indicating a possible shift in sentiment.



2. Support and Resistance:

Support Level: Around 145.00 (price bounced off this level multiple times) 🛡️.

Resistance Level: Around 148.90 (marked as the trade target) 🎯.



3. Moving Averages:

EMA 200 (Blue Line): Around 145.13 – providing dynamic support 🔵.

EMA 50 (Red Line): Around 145.98 – currently acting as near resistance 🔴.



4. Price Projection:

The chart suggests a bullish bounce from the support zone ⬆️.

Potential long entry near the support zone with a target at the resistance level (around 148.90) 💰.





---

Strategy Implied:

Long Trade Setup:

Entry: Near the support zone (~145.00–145.30) ✅

Target: Resistance zone around 148.90 🎯

Stop Loss: Just below the support zone (~144.80 or lower) ⚠️




---

Considerations:

Look for bullish reversal candles near support 🔍.

A close above EMA 50 adds bullish strength 💪.

Watch for economic data/news affecting USD or JPY 📰.