USDJPY Breaks Out of the Rising Wedge

Azeez Mustapha

Updated:

UNLOCK DAILY FOREX SIGNALS

Select a Plan

£40

 1-month subscription

Select

£30

 3-month subscription

Select

£21.5

 6-month subscription

Select

£399

 lifetime subscription

Select

£50

 Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored

Checkmark

Service for copy trading.

Checkmark

High profitable signals.

Checkmark

24/7 cryptocurrency trading.

Checkmark

10 minute setup with significant benefits.

Checkmark

79% Success rate.

Checkmark

Up to 40 trades per month.

Checkmark

Monthly subscriptions begin at £58.


Market Analysis – April 27

USDJPY has pushed above the rising wedge on the timeframe. The 4-hour chart shows the emergence from the wedge led by three white soldiers. The buyers are currently aiming for 138.0.

USDJPY Significant Levels

Demand Levels: 130.0, 127.0, 124.0
Supply Levels: 138.0, 142.0, 150.0
USDJPY Breaks Out of the Rising Wedge

USDJPY Long-term Trend: Bullish

USDJPY broke out of the bearish parallel channel in February. A double-bottom chart pattern played out successfully after the Stochastic Oscillators swerved into the oversold region on the 16th of January. The Parabolic SAR (Stop and Reverse) points appeared below the daily candlesticks to lead the market to the resistance zone of 138.0. An unmitigated order block firmly resisted the ascent at the supply zone.

The price of USDJPY declined until the support level of 130.0 was reached. A bullish order block gave the buyers an opportunity for longs. The market structure changed immediately as higher highs and lows formed with bullish breaks of structure.
https://learn2.trade/usdjpy-resumes-its-bullish-ascent

USDJPY Short-term Trend: Bullish

A rising wedge has defined the price action of the market in March and April. The last test of the supporting trendline has propelled the price above the resistance trendline. The break was led by three white soldiers. The Stochastic is overbought on the daily and four-hour charts. A correction is therefore expected towards 134.50.

Do you want to take your trading to the next level? Join the best platform for that here

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *