USDJPY Dollar Depreciation Incoming!

3 thg 9, 2023

I'm examining the USD/JPY chart and I've identified a potential bullish trading setup (Ullish). On the 4-hour chart (H4), I've noticed congestion between two key levels: a swing high at 146.29 and another level at 146.08. There has been a spike of just 0.1 pip above the previous swing high, which seems like an interesting signal to me.

I plan to wait for a possible price reversal on a 15-minute chart (M15) during the London or New York sessions. My trade target would be to aim for a support/resistance level at 145.49. Let me know what you think, greetings, and happy trading to all.