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USDJPY ( BREAKOUT ) ( 4H )

192
USDJPY

HELLO TRADERS

after publish a CPI news the price dropping , breakout a channel

  • Tendency after the price breakout , indicates the price is under bearish pressure

  • TURNING LEVEL : there is a black line around 159.827 , indicates if the price trade below this level reach a support level , but if the breaking turning level reach a resistance level

  • RESISTANCE LEVEL: there is a green line around 160.834 , indicates selling have already increase this level , when you reach this level buyer have more supply for USDJPY USDJPY

  • SUPPORT LEVEL : there is a red line around 157.940 , indicates buying have already increase this level , when you reach this level selling have more demand for USDJPY
  • PRICE MOVEMNET : the price stabilizing below turning level around 159.827, in my opinion until the price trade below turning level ,indicates selling have more demand for USDJPY , so reach a support level at 157.940 , then breaking this level reach a next target at 156.534, if the price breaking turning level , indicates buyer have more supply for USDJPY , so if the price breaking turning level by open 4h candle reach a resistance level at 160.834 , then stabilizing this level reach 161.937

TARGET LEVEL :
  • RESISTANCE LEVEL : 160.834 , 161.937
  • SUPPORT LEVEL : 157.940 ,156.534

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