$USDJPY | 1H Trade Setup Update Position: 🟢 Long

$USDJPY | 1H Trade Setup Update

Position: 🟢 Long

Trade Details:
• Entry: 140.5 (0.786 Fibonacci Level)
• Stop Loss: 140.2
• Take Profit: 141.8

● Current Analysis: USD/JPY has recently rebounded from the Value Area Low (VAL) & 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, & 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.