USDJPY - Support Holding Strong!

[theSignalyst]

USDJPY has been overall bullish trading within the rising channel marked in blue.

This week, USDJPY has been bearish trading within the falling red wedge and it is currently rejecting the lower bound of it!

Moreover, the orange zone is a strong support.

Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the lower red trendline and orange support.

As per my trading style:
As #USDJPY is around the blue circle zone, I will be looking for trend-following bullish reversal setups (like a double bottom pattern, trendline break , and so on...)

Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Richard Nasr