FX.co ★ remington.kihn | USD/JPY

Hello everyone! The channel slope of the linear regression points upwards on the M15 chart. This indicates buyer strength, attempting to rise towards the level of 161.867. Once the target is reached, movement will slow down. Due to weakening, volatility will decrease, the market will calm down, and a correction will be needed. Buying at the upper channel should be avoided; it's better to wait for a correction to 161.693. This level can be considered for entering long positions. If the price consolidates below 161.693, bears will show up and may push the market down. Therefore, buying under these circumstances becomes unattractive. The angle of the channel slope indicates how active the bulls are; the steeper the angle, the stronger the buyers. A strong angle of the channel slope usually indicates the influence of market news, contributing to good movement. The main linear regression channel located on the H1 chart determines the overall trend. The M15 channel, as a supplementary tool, currently complements the bullish picture, highlighting the upward trend. Since both channels are moving in the same direction, a bullish sentiment can be characterized for this instrument. If the signal is broken on the lower timeframe, one should expect a decline to the level of 161.561. From there, buying opportunities can be reconsidered up to 162.031. At the upper channel boundary, when bulls are present, I am fence-sitting with both buying and selling, which are currently like knives to me. My trading principle is to trade in the direction of the H1 channel movement, as it is my primary reference. On the lower timeframe, it is beneficial to refine entries and operate during strong movements when corrections are minimal.