USD/JPY Explosive Breakout Incoming? Key Levels to Watch Now!
USD/JPY Explosive Breakout Incoming? Key Levels to Watch Now!
USD/JPY Explosive Breakout Incoming? Key Levels to Watch Now!
USD/JPY Explosive Breakout Incoming? Key Levels to Watch Now!
K Karthik Raja (Market Educator & Technical Analyst)
MCA | MBA | M.Com | MSc Psychology | PGJMC | CST | MDAT | CFA Pursuant Chart Pattern
- The price is in an uptrend after a previous downtrend reversal.
- The market formed a double-bottom pattern around March 10th, leading to a strong rally.
- Parabolic SAR (blue dots) is showing a continuation of the bullish trend.
Upcoming Events
- Keep an eye on economic data releases and interest rate decisions, as they may cause high volatility.
- Earnings reports or geopolitical events could also impact the trend.
Moving Averages Insights
- The 50-day MA crossed above the 200-day MA , confirming a bullish reversal.
- The price is well above all major MAs, reinforcing the uptrend.
Volume Analysis
- Volume increased during the recent breakout, confirming strong buying pressure.
- No significant volume spikes indicating panic selling.
Trend Confirmation
- RSI (55.11) suggests the price is in a neutral zone but still has room for further upward movement.
- Momentum (100.05) indicates a positive trend but is nearing overbought conditions.
Final Takeaway
- The overall market sentiment is bullish.
- Possible resistance level around 150.200, which could act as a key breakout point.
- Support around 148.320, in case of a pullback.
Breakout Strategy (Bullish)
- Enter long positions if the price breaks above 150.200 with strong volume.
- Set a stop-loss at 148.800 to minimize risk | Target 151.500 - 152.000 as the next resistance levels.
Breakdown Strategy (Bearish)
- Short if the price falls below 148.320 with increased volume.
- Stop-loss at 149.200 to prevent false breakouts | Target 146.900 - 146.500 as the next support zone.
Disclaimer
This analysis is for educational and informational purposes only. It does not constitute financial advice. Always consult a professional before making investment decisions.
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