USD/JPY LONG TRADE WAITING NFP

31. Juli 2023

On USD/JPY, we have a bullish setup following the breakout of the trendline at the level of 140.80. At that level, I have marked a potential entry point corresponding to the retest of the trendline, a demand zone, and an FVG (I'm not sure about the meaning of "FVG" in this context). Therefore, the objective is a long trade with a target at the level of 145, as we have an area with low trading volumes, and the price could rise rapidly, especially considering the Non-Farm Payrolls (NFP) data on Friday. Let me know what you think. Happy trading to everyone from Nicola, the CEO of Forex48 Trading Academy.