$USDJPY | 1H Trade Setup Update Position: 🔴 Short

$USDJPY | 1H Trade Setup Update

Position: 🔴 Short

Trade Details:

• Entry: 143 (0.786 Fibonacci Level)
• Stop Loss: 144
• Take Profit: 142

● Current Analysis: USD/JPY has recently rebounded from the Value Area Low (VAL) and is now testing the Point of Control (POC). Momentum indicators suggest a shift towards a bullish trend. The Stochastic RSI is climbing from its oversold position, and moving averages are beginning to trend upwards.

● Technical Indicators: Momentum: Upward curl suggests potential strength. Money Flow: Declining, indicating divergence. Stochastic RSI: Rising from the bottom, pointing to a bullish phase. Moving Averages: Approaching a bullish crossover, hinting at an uptrend.

● Outlook: Monitor the price action as USD/JPY approaches the POC. A breakout above this level could validate the long position entry at 143, with a potential target of 147. Exercise caution with the decreasing money flow, which may signal underlying weakness. Maintain the stop loss at 144 to manage risk effectively.