[March 16th (Mon)] Results of the Swift Imprint trades and the next targets [USD/JPY, Gold, etc.] - Navi+ - GogoJungle | Auto Trading - Market Analysis

Hello!

This is Tanuki Trader Ponta!

We will continue with market analysis today as well. In this article,we will explain the market situation and strategies for USD/JPY. For EUR/USD and gold, a video is introduced at the end of the article.

USD/JPY is in an uptrend on the 1-hour chart

First, on the 1-hour chart for USD/JPY,

it continues to move within an uptrend. Moreover, it’s not just rising, butit is moving neatly within an ascending channel. As I have been mentioning for a while, if this trendline is broken to the downside, the uptrend could change. However, at present it remains firmly inside the uptrend line, so the market is basically considered a buying bias.

Key focus: breaking through the mid-159s and the defense around 160 USD/JPY has clearly surpassed the prior high and is showing a breakout above the mid-159s. This momentum itself is quite strong. However, recently there is a large milestone at 160 yen on the horizon. A milestone like this is an area that many traders pay attention to. Therefore, around 160, there is a possibility of a brief battle. In short, USD/JPY is bullish for now, but it does not necessarily move straight up without interruption.Three scenarios to consider for USD/JPYFrom here, I will outline具体ly what patterns to target.① Rise toward around 160 → pullback and re-accelerationFirst, if it rises toward around 160 and then pulls back before rising again,② Decline to the lower bound of the trendline and reboundSecond, a pattern where price briefly declines and bounces near the lower bound of the uptrend line. If a reversal signal such as a double bottom appears, it becomes much easier to target. Rather than rushing to jump in at high levels, it’s important to wait and look for buy the dip opportunities at such levels.③ Clearly break below the trendline → switch to a selling biasThird, a pattern where the uptrend line is clearly broken to the downside. In this case, you would reset the previous buying bias and consider initiating moves with a selling bias. In other words, the current USD/JPY is expected to follow these three patterns: continuation with pullback after uptrend pullback after trendline rebound selling after a line breakThe important thing for USD/JPY now is “do not jump in”USD/JPY is indeed strong right now. But because it’s strong, entering carelessly can lead to catching a top. What’s important in this kind of market is not to rush in while it’s rising, but to wait for a pullback. How it reacts around 160 whether it pulls back to the trendline whether a rebound pattern forms or whether it breaks lower and the trend changes By watching these carefully, you can reduce unnecessary trades.