USD/JPY Trading Analysis (07/06/2024)

The trend is generally ascending. The bears have tested the lower border of the ascending price channel built on the H4 timeframe. There is a bullish divergence on the Awesome Oscillator and the Stochastic Oscillator signals the oversold state. The entry point on the B pullback is forming .

Trading idea:

Buy when the formation of the ascending wave structure begins, when the wave A breaches the sloping channel of the descending structure.

Stop-Loss at 155.000.

Target price levels at 156.380 and 157.160.

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