USDJPY Bullish Wedge Forming - Early Buy Opportunity (Long)

We sold this position for a target of +50pips and exited early at +35pips after we found strong resistance on the 4-hour EMA50.
Lower timeframes suggests a sharp pullback and as we look back over the charts we can see the EMA50 has historically provided a solid ground for dynamic support & resistance.

With this in mind and the higher timeframes being overall bullish. I decided to exit my short position early and take this opportunity for an early entry into a long position. I anticipate a bullish break of the current wedge, in which price is now moving back up into as we speak.

My entry is @ 111.544 - for now, I have taken a very small position and I will look to add to this position, where possible, as the trade develops.

Daily View:

4-Hour EMA50 View:

4-Hour View (Strong Support/Resistance Level):

15-Min View:

Giao dịch được đóng thủ công:

Closing this -45pips after breaking to the downside. This setup is now invalid.