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.
It reached the upper boundary of the triangle, but last week ended without the weekly candle body breaking above the swing high.
Daily
Uptrend.
The price broke above the previous high at the 150.8 yen level but then declined near the upper boundary of the weekly triangle.
The price is currently showing a slight rebound around the weekly swing high line.
4-Hour
Uptrend.
A larger correction occurred, and the price is now rising again.
However, there is a possibility that a downtrend may begin afterward.
1-Hour
A downtrend has formed with lower highs and lower lows, and the previous low line is now acting as resistance.
At the moment, the market lacks clear direction and is moving sideways.
Trade Strategies
I will continue to look for short opportunities until the price breaks above the current resistance line.
If the price breaks above the resistance line, I will look for a short-term long opportunity.
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
