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
It broke above the upper boundary of the descending channel.
It is now considered to be in a corrective wave.
The 21-day moving average was not strongly respected.
1-Hour
The uptrend had been continuing.
However, the upside has been capped, and it is now in a range.
Trade Strategies
Look for a dip-buying opportunity targeting the third wave up on the 4-hour chart.
On the 1-hour chart, the price is near the lower boundary of the range, so confirm price action or chart patterns and aim for a long position.
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
