USD/JPY Trading Analysis (09/01/2024)

The trend is ascending. The downward wave structure is truncated. The Stochastic Oscillator signals the oversold state. The currency pair is traded in the range between 365 and 135 ЕМА. The entry point at pullback B and C 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 truncated structure.

Stop-Loss at 143.380.

Target price levels at 145.950 and 148.150.

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