Buy Levels:
- Buy Level: 147.670
- The 147.670 level has shown historical support and could serve as a buying opportunity if the price retraces to this level.
- Buy Level: 147.571
- The 2nd Buying on 147.571 level might signal a bullish momentum, making it a potential entry point for buyers looking to ride the upward trend.
Sell Levels:
- Sell Level: 149.675
- The 149.675 level has acted as a resistance in the past and could be a suitable area to consider selling positions if the price reaches this point.
Important Considerations:
- Monitor key economic indicators and news events that could influence the USD/JPY pair, such as interest rate decisions, geopolitical tensions, and economic data releases from both the United States and Japan.
- Utilize risk management techniques, such as setting stop-loss orders and proper position sizing, to mitigate potential losses and protect capital.
- Adapt your trading strategy based on real-time market conditions and price action to maximize profitability while minimizing risks.
Remember, trading involves inherent risks, and it’s essential to conduct thorough analysis and exercise caution when executing trades in the forex market.
