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.
The price broke above the upper boundary of the ongoing sideways consolidation range but has been pushed back strongly into the range again.
4-Hour
The lower boundary of the uptrend channel has been broken, and a downtrend has formed.
The market is currently in a corrective phase.
1-Hour
Downtrend.
Pay attention to price action near the upper boundary of the channel.
Trade Strategies
Considering a pullback sell near the upper boundary of the descending channel.
Also keeping an eye on price action around the 200 EMA.
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<EUR<USD<JPY
