The USDJPY pair continues to display a robust uptrend, characterized by the formation of Higher Highs (HH) and Higher Lows (HL) clearly visible on the 1-hour timeframe. This pattern signifies a growing and consistent dominance of buyers, pushing prices to higher levels. Additionally, the Moving Average (MA) line is starting to flatten with an upward tendency, reinforcing the bullish signal, indicating that the market is stabilizing during a short to medium-term uptrend.
Interestingly, despite the increasing buying pressure, the indicators are in the oversold region, which actually serves as an additional catalyst for further potential rises. This scenario suggests there is still room for further recovery, as major market players tend to seize limited correction moments to re-enter buy positions. Should this trend persist, USDJPY may have the opportunity to break through the next critical resistances.
Recommended
Recommended
Recommended
Recommended
USDJPY has successfully breached the neckline of the inverted head and shoulders pattern on the 15-minute timeframe, indicating strong potential for a rebound from the lower price area. This breakout acts as an early signal for a trend reversal, further supported by the ZigZag indicator that is beginning to form an upward price structure, along with the Moving Average (MA) also trending upwards. This technical combination confirms that bullish momentum is starting to form in the short term, opening up opportunities for USDJPY to continue its ascent towards the next resistance level of 146.920.
Technical Reference: buy while above 145.790
Potential Take Profit 1: 146.750
Potential Take Profit 2: 146.920
Potential Stop Loss 1: 145.970
Potential Stop Loss 2: 145.790
