USD/JPY Technical Analysis – Reaction at the Lower Trendline
Analysis of USD/JPY, we can see a clear reaction from the upper trendline, which has been tested multiple times before the current price decline after the false break on january 25.
By cloning this upper channel trendline and projecting it downward, I have identified a potential support level where the price may react.
This method provides a logical expectation that the market will respect the parallel structure. I am looking for confirmation in this area before considering a position. If i see a strong reaction and signs of strength from the projected trendline, it could present a solid entry opportunity for potential upside.
As always, I am closely monitoring price action and waiting for confirmation signals before making a decision. Risk management is key, and I will use a well-placed stop-loss in case the market breaks through the projected support.
Analysis of USD/JPY, we can see a clear reaction from the upper trendline, which has been tested multiple times before the current price decline after the false break on january 25.
By cloning this upper channel trendline and projecting it downward, I have identified a potential support level where the price may react.
This method provides a logical expectation that the market will respect the parallel structure. I am looking for confirmation in this area before considering a position. If i see a strong reaction and signs of strength from the projected trendline, it could present a solid entry opportunity for potential upside.
As always, I am closely monitoring price action and waiting for confirmation signals before making a decision. Risk management is key, and I will use a well-placed stop-loss in case the market breaks through the projected support.
取消訂單
Price hit the level during Asia and i was asleep. But price did not show much action around the parallel projection. But i have an alert set for a retest. Price is taking out both highs and lows now on the 1H so there is no clear direction to see as of now.
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