USDJPY: Your Trading Plan Ahead of FED ๐บ๐ธ๐ฏ๐ต
https://www.tradingview.com/x/CoGuFNPu/
USDJPY is currently accumulating within a narrow horizontal range on a daily.
It looks like the market participants are waiting for some important fundamental data
to decide where to push the prices.
I see 2 potential scenarios.
Bullish
151.70 - 152.00 is a key horizontal resistance.
Its bullish breakout - a daily candle close above, will be a strong bullish signal.
A bullish continuation will be anticipated at least to 153.0 level then.
Bearish
151.0 - 151.3 is the support of a daily range.
Its bearish breakout - a daily candle close below, will be a perfect signal to short.
The first goal for the sellers will be 150.3 support.
Wait for a breakout, it will give you a strong confirmation.
โค๏ธPlease, support my work with like, thank you!โค๏ธ
USDJPY is currently accumulating within a narrow horizontal range on a daily.
It looks like the market participants are waiting for some important fundamental data
to decide where to push the prices.
I see 2 potential scenarios.
Bullish
151.70 - 152.00 is a key horizontal resistance.
Its bullish breakout - a daily candle close above, will be a strong bullish signal.
A bullish continuation will be anticipated at least to 153.0 level then.
Bearish
151.0 - 151.3 is the support of a daily range.
Its bearish breakout - a daily candle close below, will be a perfect signal to short.
The first goal for the sellers will be 150.3 support.
Wait for a breakout, it will give you a strong confirmation.
โค๏ธPlease, support my work with like, thank you!โค๏ธ
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