trendlinebounce

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tylerpedley tylerpedley USDJPY, 240, Long ,
USDJPY: USDJPY 4h Long- Trendline Bounce + Pivot Point Support + Low RSI
60 0 1
USDJPY, 240 Long
USDJPY 4h Long- Trendline Bounce + Pivot Point Support + Low RSI

Looking at USDJPY on the 4h timeframe we can see a clear trendline bounce with 2 confirmation candles. Low RSI shows a clear oversold making the trendline hard to break. Adding to the support there is the pivot point just on the trendline. Targets towards the top trendline but being cautious of the MA zone that is on the P pivot point acting as resistance.

scg9 scg9 NZDJPY, 60, Long ,
NZDJPY: NZDJPY LONG
28 0 0
NZDJPY, 60 Long
NZDJPY LONG

NZDJPY forming a nice wedge on the D1 chart. Multiple touch points on both upper resistance and lower supporting trend line.

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