USDJPY - Trend-Following Buy Setup!

2022年11月17日

Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.

on DAILY: Left Chart
As per my last analysis, we know that USDJPY is overall bullish trading inside the rising broadening wedge in orange, and we are currently sitting around the lower orange trendline so we will be looking for buy setups.

on H1: Right Chart
USDJPY is forming an inverse head and shoulders pattern but it is not ready to go yet.

Trigger => for the bulls to take over, we need a momentum candle close above the gray neckline.

Meanwhile, until the buy is activated, USDJPY can still trade lower. If we break the green zone lower, then we will expect a movement till the 135.0 zone.

Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich