USDJPY: D1 (Go long!)

FX:USDJPY   U.S. Dollar / Japanese Yen
Daily Timeframe
- Price has held between 0.618 to 0.382 levels
- Bearish candle has formed below previous bullish candle
- Price has tested resistance twice before.
- Price may retest the resistance line again before breaking

4Hourly Timeframe
- Confluence around resistance level
- Price tested resistance again

On smaller timeframes; price has tested and retested resistance line a countless number of times. This shows a strong resistance zone and respect of this area. On these timeframes; price is on a downtrend.
Wait for confirmation candle to see what price will do next.
How did this play out?
apphiapatten Apex_Managed_Capital
@Apex_Managed_Capital, Hey! Price went up by 230 pips. So my analysis was accurate. Thank God lol. I'm new to all of this so I'm literally just putting into practice what I'm learning.
+1 Reply
@apphiapatten, New to the game and pulling off trades like that... not a bad start at all ;p
apphiapatten Apex_Managed_Capital
EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Send feedback Ideas Published Followers Following Private Messages Chat Sign Out