Daily Analysis + Trade Idea on USDJPY by ThinkingAntsOk

Use this as a guide to develop your own setup

Main items we can see on the Daily chart:

a)The Major Structure is a Descending Channel
b)Currently, we can see a Wedge Pattern formation (Weakness of the Bullish movement)
c)On MACD we can see a Bearish Divergence
d)The Wedge pattern is against a Major Resistance zone

Our filter to trade this Forex Pair will be to wait for:

FIRST: Breakout of the Wedge Pattern
SECOND: Corrective Structure on a lower timeframe such as 1h/4h
THIRD: Our Entry will be below the 1h/4h corrective structure, our stop will be above the Major Resistance zone and our take profit is the lower support zone (beginning of the Wedge)