Price Action Setup – USDJPY Forming Price Action Squeeze | Apr. 24th

USDJPY – 4hr Chart Price Action Squeeze – More Upside?
Holding up the best of the main JPY pairs, the USDJPY has held closest to the key upside barrier of 100.00 with the smallest pullbacks, suggesting it is the most underpinned of all the JPY pairs. You can see on the 4hr chart below the price action squeeze that is happening with the successive HL’s (higher lows) and recent 20ema carry from today. The upside barrier is clear with the 100.00 level, but I don’t think traders are willing to buy here, so I’ll wait for either a deeper pullback towards 96.50, or a breakout pullback setup above 100 to add longs and rejoin the trend.

price action squeeze trading price action usdjpy 2ndskiesforex.com

Visit our Free Beginners Course, & my article on An Unconventional Approach to Your Trading Mindset.

Want More? My private members get all my trade ideas & market commentary up to 3x per week. Click here to become a member.

Verified Profitable Trader

Hi, I'm Chris Capre, Founder of 2ndSkiesForex. I've turned $3,000 into $83,000 in my first 6 months of trading. I'm a verified profitable trader and trading mentor. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action and the Ichimoku cloud. As a trading mentor, I have one goal: to change the way you think, trade and perform using 18yrs of trading experience and cutting edge neuroscience to wire your brain for successful trading. Want to improve your trading edge and mindset? Check out my trading courses here.

Related Article