Vladimir RibakovOwner, Chief Trader at Home Trader Club (Former Traders Academy Club), Owner, Chief Trader at Home Trader Club (Former Traders Academy Club) · Owner, Chief Trader at Home Trader Club (Former Traders Academy Club)

USDJPY technical analysis- price to return to 140? #usdjpyanalysis #weeklyforexforecast

11 Jan 2023 · 1 min

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Vladimir Ribakov examines USD/JPY for a potential false breakout. If it reverses, the price could climb back toward 140, where a large volume area sits on the chart. A nearby supply zone might offer a bounce point on the way up.

Chapters

breakout. And what I will want to see here is another false breakout. If that starts to happen, we will be looking here for reversal signs. After the low would be created, we can start looking for the flip on the price where the market will start making higher highs, higher lows, and start going back towards this massive volume area. As you can see on this volume Profile indicator. Okay, so the lower we go here towards the next areas, the stronger the pressure to take us back to this volume area. And we have also some supply zone on the way, so it should be a good opportunity to bounce back towards