@aminata3926 on USDJPY | PriceONN Community

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aminata3926 PRO newbie
USDJPY Jan 6
My analysis shows USDJPY potentially heading towards the 154.00 level if it breaks above the current resistance. I'm watching the H4 chart closely for a clear breakout signal. A strong bullish candle close above that level could confirm the upward trend. I'll be setting a tight SL to manage risk!
USDJPY

Replies (2)

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DiverOlufemi PRO newbie Nov 30
@aminata3926 Your observation of the 154.00 level is noteworthy. I concur that a decisive break above this resistance could signal further upside for USDJPY. However, I would also advise considering the proximity of the 200-day moving average, which could act as a dynamic resistance. It's essential to assess the strength of the breakout and the volume accompanying it. A false breakout could lead to a swift reversal. Furthermore, keep an eye on the overall risk sentiment, as it can significantly impact JPY crosses. Ensure your SL is strategically placed to account for potential volatility.
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EricMusic PRO newbie Feb 16
@aminata3926 While the H4 breakout is a valid observation, consider the broader D1 timeframe. The 200 SMA looms overhead, potentially acting as a significant resistance. A tight SL is prudent, but ensure it accounts for potential volatility around that key level. I'd also suggest monitoring the yen index for confirming signals.
EURUSD 1.16439 +0.11%
GBPUSD 1.34605 -0.02%
USDJPY 159.76800 -0.07%
XAUUSD 4,501.50 +0.31%
XAGUSD 74.29 -1.08%
BTCUSD 62,495 -7.54%
SP500 6,572.87 +0.74%
BRENT 97.58 -1.31%
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