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 major correction, the price has risen again and has broken the recent high with a full candlestick close.
4-Hour
Uptrend.
The previously respected resistance line has also been broken to the upside.
There’s a possibility of a pullback occurring.
1-Hour
Higher highs and higher lows are forming, indicating an ongoing uptrend.
A pullback is currently forming, and the 21-day moving average may also come into play.
Trade Strategies
The previously respected resistance line is likely to turn into support, so watch the price action around that area and aim for a pullback buy.
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
