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 upper boundary of the triangle is currently acting as resistance.
Daily
Uptrend.
After a significant pullback, the price has started rising again.
4-Hour
The price has clearly broken above the upper boundary of the descending channel, forming higher highs and higher lows, indicating an uptrend.
It appears to be in a correction phase now.
1-Hour
Uptrend.
After a sideways consolidation, the price surged upward.
Trade Strategies
It appears to be in a correction phase within an uptrend, so wait for a pullback before aiming for a long position.
Focus on the price action around the previous high and the lower boundary of the channel.
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
