Trend & Momentum:
RSI (14, close) currently shows a range between -7.25 to 35.47, indicating potential oversold conditions (RSI below 30-35 often signals a reversal opportunity).
The Average YoY data suggests moderate volatility, with Q2 at 0.558 and H1 at 0.555, hinting at a stable uptrend bias.
Price Action:
Support Levels: L1 at 0.499 and C1 at 0.498 act as strong support zones. A bounce from these levels could confirm a buy signal.
Resistance Break: A0 at 0.8 (despite a slight dip of -0.025) is a key level to watch. A breakout above this with volume could reinforce bullish momentum.
Entry Strategy:
Ideal Buy Zone: Near 0.498-0.499 (L1/C1) with RSI recovering from oversold territory.
Confirmation: Wait for a 4H candle close above 0.555 (H1) or a bullish reversal pattern (e.g., hammer, engulfing).
Risk Management:
Stop Loss: Below 0.498 (C1) to limit downside risk.
Targets: Initial TP at 0.555 (H1), extended TP at 0.8 (A0) if momentum sustains.
Conclusion:
USD/JPY shows a potential buy opportunity on the 4H chart, supported by oversold RSI and key support levels. Enter near 0.498-0.499 with strict risk controls, targeting a rally toward 0.555-0.8.
RSI (14, close) currently shows a range between -7.25 to 35.47, indicating potential oversold conditions (RSI below 30-35 often signals a reversal opportunity).
The Average YoY data suggests moderate volatility, with Q2 at 0.558 and H1 at 0.555, hinting at a stable uptrend bias.
Price Action:
Support Levels: L1 at 0.499 and C1 at 0.498 act as strong support zones. A bounce from these levels could confirm a buy signal.
Resistance Break: A0 at 0.8 (despite a slight dip of -0.025) is a key level to watch. A breakout above this with volume could reinforce bullish momentum.
Entry Strategy:
Ideal Buy Zone: Near 0.498-0.499 (L1/C1) with RSI recovering from oversold territory.
Confirmation: Wait for a 4H candle close above 0.555 (H1) or a bullish reversal pattern (e.g., hammer, engulfing).
Risk Management:
Stop Loss: Below 0.498 (C1) to limit downside risk.
Targets: Initial TP at 0.555 (H1), extended TP at 0.8 (A0) if momentum sustains.
Conclusion:
USD/JPY shows a potential buy opportunity on the 4H chart, supported by oversold RSI and key support levels. Enter near 0.498-0.499 with strict risk controls, targeting a rally toward 0.555-0.8.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.