Good morning traders! Today, we will analyze USD/JPY in a relatively low time frame, to show a situation that can develop in the short term.
🔸As we can see, the price is in a bullish channel.
🔸We can define this just now, since it was able to break the range that was active for approximately two weeks.
🔸Thanks to this, we consider that there may be a bullish opportunity in the short term.
🔸What we are waiting for is a retest of the support zone (previous resistance zone) and then a bullish rejection.
🔸If this happens, it is possible that the price will reach the resistance zone or the upper line of the bullish channel.
🔸As we can see, the price is in a bullish channel.
🔸We can define this just now, since it was able to break the range that was active for approximately two weeks.
🔸Thanks to this, we consider that there may be a bullish opportunity in the short term.
🔸What we are waiting for is a retest of the support zone (previous resistance zone) and then a bullish rejection.
🔸If this happens, it is possible that the price will reach the resistance zone or the upper line of the bullish channel.