USDJPY is bouncing off the strong support zone
SPX daily chart is revealing a bounce off the strong support zone 107.500-108 also forming a possible Inverse H&S formation for an upside reversal and a deeper pullback into the 110.200 level.
On a 6 hour chart, we can see a successful test of the support confluence. This is providing an excellent trading opportunity with a good risk to reward long entry. You can place a long trade even at the market with the stop loss below the 107.850 level targeting 110 level and even trailing the profit further upside into 111.500 level. ARMAT trading system is indicating a potential 200 pips of profit.
We have used the combination of the top-down trading analysis to get these key levels explained in the charts.
Happy trading! (click on the chart to enlarge it)
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