$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 rebounded from the Value Area Low (VAL) and is now testing the Point of Control (POC). Momentum indicators are signaling a potential shift towards a bullish trend. The Stochastic RSI is climbing from oversold levels, and moving averages are starting to trend upwards, suggesting a favorable setup.

● Technical Indicators
• Momentum: Upward curl indicating building strength.
• Money Flow: Declining, presenting a possible divergence.
• Stochastic RSI: Rising from the bottom, confirming a bullish phase.
• Moving Averages: Approaching a bullish crossover, reinforcing the likelihood of an uptrend.

● Outlook
As USD/JPY approaches the POC, closely monitor price action for a breakout, which could affirm the long position entry at 143 and provide a potential target of 147. However, stay alert to the decreasing money flow, as it may signal hidden weakness. Keeping the stop loss at 144 is crucial for risk management.