SMC Trading point update
Technical analysis of USD/JPY chart shows a bullish reversal setup. Here’s a breakdown behind the analysis:
1. Downtrend & Channel Breakout:
Price was trending downward within a descending channel (marked “channel trend”).
Recently, the price broke out of the channel, signaling a potential trend reversal.
2. Demand Zone (Diamond Zone):
The yellow box labeled “Diamond Zone” represents a demand/support zone where price previously found buyers.
A retest of this zone is expected before the bullish move.
3. EMA (200):
The EMA (200) is currently above the price but close. A break above this level (142.522) could add to bullish momentum.
4. RSI Indicator:
RSI is showing a bounce off a mid-level (~50), suggesting bullish momentum is gaining.
5. Target Level:
The analysis targets 147.838, which aligns with a prior resistance zone.
The move projects a 5.19% gain (~778.5 pips) from the current setup.
Trading Idea Summary:
Entry: Around the “Diamond Zone” after a successful retest.
Confirmation: Watch for bullish candlestick patterns or a break above EMA 200.
Target: 147.838
Stop Loss (implied): Below the Diamond Zone (~140.000)
Pales support boost 🚀 analysis follow)
Technical analysis of USD/JPY chart shows a bullish reversal setup. Here’s a breakdown behind the analysis:
1. Downtrend & Channel Breakout:
Price was trending downward within a descending channel (marked “channel trend”).
Recently, the price broke out of the channel, signaling a potential trend reversal.
2. Demand Zone (Diamond Zone):
The yellow box labeled “Diamond Zone” represents a demand/support zone where price previously found buyers.
A retest of this zone is expected before the bullish move.
3. EMA (200):
The EMA (200) is currently above the price but close. A break above this level (142.522) could add to bullish momentum.
4. RSI Indicator:
RSI is showing a bounce off a mid-level (~50), suggesting bullish momentum is gaining.
5. Target Level:
The analysis targets 147.838, which aligns with a prior resistance zone.
The move projects a 5.19% gain (~778.5 pips) from the current setup.
Trading Idea Summary:
Entry: Around the “Diamond Zone” after a successful retest.
Confirmation: Watch for bullish candlestick patterns or a break above EMA 200.
Target: 147.838
Stop Loss (implied): Below the Diamond Zone (~140.000)
Pales support boost 🚀 analysis follow)
Trade closed: target reached
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Related publications
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.
(Services:✔️ JOIN Telegram channel
#Gold trading ★Analysis★ 📊
Gold trading signals 🚀 99%
t.me/SmcTradingPoin
Join my recommended broker , link 👇
World best broker exness ✅D
one.exnesstrack.org/a/l1t1rf3p6v
#Gold trading ★Analysis★ 📊
Gold trading signals 🚀 99%
t.me/SmcTradingPoin
Join my recommended broker , link 👇
World best broker exness ✅D
one.exnesstrack.org/a/l1t1rf3p6v
Related publications
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.