USDJPY Market Analysis and Trading Strategies.
*Personal Opinion
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Waveforms of each time leg
Weekly
A triangle consolidation is forming, and the price is currently moving from the lower boundary toward the upper boundary.
Daily
Uptrend.
The price has been consolidating sideways and has rebounded near the lower boundary of the channel.
4-Hour
The downtrend that had formed from the upper to the lower boundary of the range was broken by a sharp rise.
The question is whether the price will rise again to 149 yen.
1-Hour
Uptrend.
The price is currently being capped by a horizontal line on the 4-hour chart.
Trade Strategies
Considering a pullback buy targeting the third wave of the uptrend on the 4-hour chart.
I want to wait for a return move into the descending channel.
I will also keep an eye on the 21-day moving average.
Since this is counter-trend against the higher timeframe, the risk is high, but I will aim for a short on the lower timeframes.
I will be targeting a correction on the 4-hour chart.
Currency Strength
【EURUSD】4H
EUR>USD
【GBPUSD】4H
GBP<USD
【USDJPY】4H
USD>JPY
【EURJPY】4H
EUR>JPY
【GBPJPY】4H
GBP>JPY
【EURGBP】4H
EUR>GBP
JPY<GBP<USD<EUR
