USD/JPY 1HOUR CHART TECHNICAL ANALYSIS NEXT MOVE POSSIBLE

This USD/JPY 1-hour chart presents a bullish trade setup, anticipating a move higher. Here's the breakdown:

Key Observations:

1. Support Zone: The price is bouncing from a yellow demand zone near 149.145 - 149.294, signaling buying pressure.


2. Bullish Projection: The black arrows suggest a potential rally toward the 151.511 resistance zone, marked in red.


3. Risk-Reward Setup:

Entry: Near 149.670

Take Profit (TP): Around 151.511

Stop Loss (SL): Below 149.145, ensuring risk control.



4. Market Structure:

A previous downtrend correction has found demand.

A bullish channel formation supports the upward move.




Trade Idea:

A long (buy) position aiming for 151.511 is valid as long as price remains above 149.145. A break below may invalidate the setup.

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