USDJPY: Short-term Option

USDJPY, H4

On the H4, USDJPY formed a descending channel pattern and broke the upper trend line. The Parabolic SAR indicates an upside opportunity, and the +DI has crossed the -DI on the ADX. DeMarker has also broken out of the oversold zone.

We consider buying USDJPY only on consolidation above MA200 and 143.800 with a target to 145.200 (It is important to wait for consolidation!).

Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

Share with friends:

Author: Egor Schmidt

Open an FBS account

By registering, you accept FBS Customer Agreement conditions and FBS Privacy Policy and assume all risks inherent with trading operations on the world financial markets.