USDJPY Long Term Trade Idea
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Hi Traders!
We have a long-term ascending triangle formation on the 1D chart. There is a triple top resistance setup at the 138.136 (December 16th 2022 high) area and we must break and close above this level for a bull push towards the psychological 140.000 level which we have not seen for almost a year and a half.
As long as we stay above the 50 Moving Average support, we are likely to rally upwards to test the resistance. However, if we do not break 138.136 we are likely to stay in the range.
Please do not forget to like, comment and follow.
We appreciate your support.
BluetonaFX
We have a long-term ascending triangle formation on the 1D chart. There is a triple top resistance setup at the 138.136 (December 16th 2022 high) area and we must break and close above this level for a bull push towards the psychological 140.000 level which we have not seen for almost a year and a half.
As long as we stay above the 50 Moving Average support, we are likely to rally upwards to test the resistance. However, if we do not break 138.136 we are likely to stay in the range.
Please do not forget to like, comment and follow.
We appreciate your support.
BluetonaFX
Nota
Our ascending triangle idea has now reached the top of the triangle resistance.
We are looking for a momentum break and close of the 138.136 level to continue moving up. If we do not get this, we will go back down and most likely continue ranging sideways.
BluetonaFX
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