USDJPY Market Analysis and Trading Strategies.
*Personal Opinion
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Waveforms of each time leg
Weekly
The price is moving within a large triangle consolidation.
It has rebounded from the lower boundary of the triangle and is now rising toward the upper boundary.
Daily
Uptrend.
Recently, sideways consolidation has continued, and the price has rebounded at the lower boundary of the channel.
4-Hour
The upper boundary of the descending channel has been broken, invalidating the downtrend.
The price is likely in a correction phase now.
Since the 21-day moving average is overlapping with this area, I will pay attention to the price action.
1-Hour
The market is currently in a range.
On the lower timeframes, a downtrend has formed, pushing the price toward the range support level.
Trade Strategies
Watch the price action at the potential support line.
Look for opportunities to buy the dip.
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
GBP<JPY<USD<EUR
