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.
The price is currently being capped at the recent high and is rebounding.
4-Hour
Uptrend.
The recent high on the daily chart acted as resistance, causing a temporary decline, but the support line on the 4-hour chart held, leading to a rebound and renewed upward movement.
1-Hour
Recently, the price declined once but has since formed higher highs and higher lows, indicating the start of an uptrend.
If it breaks above the recent resistance line, there’s a possibility of further upward movement.
Trade Strategies
Watch the price action on the lower timeframes and aim for a pullback buy.
Pay attention to the 21-day moving average as well.
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
