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