USDJPY Market Analysis and Trading Strategies.
*Personal Opinion
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Waveforms of each time leg
Weekly
A large symmetrical triangle is forming.
The price is currently rising from the lower boundary toward the upper boundary of the triangle.
Daily
Uptrend.
After a period of sideways consolidation, the price broke above the range top and is now forming a pullback.
4-Hour
Uptrend.
The price is currently consolidating near the lower boundary of the ascending channel.
If the channel’s lower boundary or the starting point line of the recent highest high on the 4-hour chart is clearly broken, long positions should be cut.
1-Hour
The price is consolidating around the starting point line of the recent highest high.
If this level functions as support, I will aim for a move from the lower to the upper boundary of the range.
Trade Strategies
If the current price zone functions as support and the range top on the lower timeframe is broken upward, I will look for dip-buying opportunities.
If the current support zone is clearly broken to the downside, I will cut losses.
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<EUR<USD
