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USD/JPY Trading Analysis (08/07/2024)

08.07.2024

Market Review

The trend is ascending. The currency pair is traded in the range between 365 and 135 ЕМА. The downward wave structure is truncated. There is a bullish divergence on the Awesome Oscillator.

Trading idea:

Buy when the formation of the ascending wave structure begins, when the wave A breaches the pivot 2 (160.715) of the descending truncated structure.
Stop-loss at 160.250.
Price targets at 61.320 and 161.940.

#usdjpy #forex #forextrading #tradersroom #daytradingpatterns #forexexpertadvisor

Author: GC

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