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
Uptrend.
It is believed to be in the third wave of the rise.
The price has reached the upper boundary of the larger range and is pulling back, but there is still room for further growth.
1-Hour
Uptrend.
The price is currently overlapping with the 21-day moving average, and there might be some dip-buying.
However, I expect a slightly larger pullback to come.
Trade Strategies
Since the third wave up on the 4-hour chart still has room to extend, watch the price action around the previous high line and near the lower boundary of the ascending channel to look for dip-buying opportunities.
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
