Comprehensive Analysis of USDJPY

28 thg 7

H1 Analysis:

• Wave Structure: The chart shows a clear impulsive wave structure followed by a corrective wave.
• Wave Count:
• The impulsive wave structure is labeled from (i) to (v), indicating a complete 5-wave sequence.
• The corrective wave is labeled as (a), (b), and (c) forming an ABC correction.
• Current Position: The price appears to be completing the (iv) wave of the larger degree, which suggests a potential upward movement to complete the (v) wave.

H4 Analysis:

• Wave Structure: This timeframe provides a broader perspective of the wave structure.
• Wave Count:
• The impulsive wave from the previous H1 analysis is part of a larger degree wave labeled as (iii) and (iv).
• The (iv) wave appears to be completing its correction, suggesting a forthcoming upward movement in wave (v).
• Key Levels:
• Support is found around 151.852, which aligns with the completion of wave (c) of (iv).
• Resistance levels for wave (v) are projected around 165.000 and 170.000.

Daily Analysis:

• Wave Structure: The daily chart presents a comprehensive view of the overall trend and larger wave degrees.
• Wave Count:
• The impulsive move labeled as 1, 2, and ongoing 3, 4, and 5 indicate a larger degree wave (C) completion.
• Wave 4 correction aligns with the support level of 151.852.
• Projection: The final wave (5) of (C) projects an upward movement towards the resistance zone around 170.000 to 184.435.

Key Levels:

• Support Levels:
• 151.852: Critical support where wave (iv) is expected to complete.
• 140.754 and 146.447: Additional support zones from larger degree waves.
• Resistance Levels:
• 165.000 and 170.000: Initial resistance zones for the completion of wave (v).
• 184.435: Potential final target for wave (5) of (C).

Trading Strategy:

• Long Entry: Around 151.852 support zone, anticipating the completion of wave (iv) and the start of wave (v).
• Stop Loss: Below 150.000 to manage risk against further downside.
• Targets:
• Initial Target: 165.000, aligning with previous high resistance.
• Secondary Target: 170.000, the projected resistance for wave (v).
• Final Target: 184.435 for the completion of wave (5) of (C).

Indicators:

• MACD: Shows oversold conditions on H1 and H4, indicating a potential reversal point.
• RSI: Indicates a bullish divergence on lower timeframes, supporting the bullish reversal hypothesis.