USDJPY Market Analysis and Trading Strategies.
*Personal Opinion
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Waveforms of each time leg
Weekly
The price is moving within a symmetrical triangle.
The price has bounced from the lower boundary of the triangle and has risen toward the upper boundary.
Daily
Uptrend.
The price has finally reached the upper boundary line of the weekly triangle.
Even if it continues to rise, a pullback is expected first.
4-Hour
Uptrend.
The price keeps rising steadily without making any significant pullbacks.
1-Hour
Uptrend.
It currently appears that the upside momentum is starting to weaken.
Trade Strategies
On the 1-hour chart, the upside appears to be weakening, so I will look for a short after confirming the loss of upward momentum.
However, since the higher timeframe is still in an uptrend, there is a risk of a small pullback pushing the price up, so caution is needed.
Also considering dip-buying at the starting point line of the recent high on the 1-hour chart.
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
JPY<EUR<GBP<USD
