USD/JPY Bullish Breakout Setup – Entry, Stop Loss & Target Analy

Pair: USD/JPY

Timeframe: 15 minutes

Indicators Used:

EMA (30-period) – Red line

EMA (200-period) – Blue line

Chart Features:

Downward channel (declining trendline)

Identified entry point, stop loss, and target

Key support/resistance zones shaded in purple

🟢 Trade Idea Summary:
🔹Entry Point: 143.126

🔹Stop Loss: 142.702

🔹Target (Take Profit): 148.249

🔹Risk/Reward Ratio: ~1:5 (Excellent R/R)

🔍 Technical Analysis:
✅ Bullish Breakout Signal
Price has broken above the descending channel and has retested the breakout area (highlighted purple zone) – a classic bullish breakout structure.

The breakout retest near 143.126 is acting as support, with potential to launch a new bullish move.

📈 Moving Average Analysis
EMA 30 is starting to flatten and curve up – indicating potential shift in momentum.

EMA 200 is still above price, but a breakout above it could strengthen the bullish case.

🔁 Support and Resistance
Strong support zone around 143.000 – 143.200 area (highlighted zone).

Major resistance and target zone is between 148.000 – 148.250.

🔔 Trade Plan Suggestion:
Go Long at or near 143.126

Place Stop Loss below support at 142.702

Target 148.249 for profit

Reasoning:
This setup offers a trend reversal potential from a downtrend to uptrend, with a clean breakout-retest-confirmation pattern. The wide take profit range gives room for extended upside as momentum builds.

⚠️ Watch For:
Reaction to the 144.325 (EMA 200) level

Increased buying volume to confirm breakout

Any re-entry into the channel (would invalidate setup)