USD/JPY (2H timeframe, FXCM) chart Pattern...

11 Nov

USD/JPY (2H timeframe, FXCM) chart:

Here’s the setup my drawn — and what it suggests:


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🧭 Chart Summary

Current Price: Around 154.31

Trend: Uptrend channel (price moving between two parallel rising lines)

Breakout: Price has bounced above the midline and seems to be heading toward the upper boundary

Ichimoku Cloud: Price is above the cloud → confirming bullish momentum

Box (pink): Indicates previous consolidation or retest zone around 153.6–153.9



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🎯 Target Analysis

From my chart, the blue arrow labeled "Target Point" points toward the upper trendline of the channel.

Target Zone: Around 155.80 – 156.00
(that’s where my upper channel resistance + target point line meet)



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📈 Summary

Level Type Target Zone

Entry (current) — 154.3
1st Target Main upward target 155.8 – 156.0
Stop-loss (recommended) Below last swing / cloud 153.5 – 153.6



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⚠ Notes:

As long as price stays above 153.8, bullish continuation looks strong.

If price breaks below 153.5, this bullish setup becomes weak and might turn sideways or bearish.

I can trail stop-loss once price crosses 155.0.

11 Nov

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