USDJPY Market Analysis and Trading Strategies.
*Personal Opinion
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各時間足の波形
Weekly
Weekly triangle.
Currently rising back up at the lower triangle.
The long-term view is to the upside as the last push low has not been broken.
If the price continues to rise, it could go up to the upper triangle.
Daily
Downward trend.
Adjustment to around the previous low and then down again.
Down to around half of the adjustment and then up again.
There is a possibility that the daily selling forces and the long-term buying forces will collide, resulting in a range.
4-hour
The upward wave was broken, but it has switched to the upside again and is now breaking the last push low.
It depends on where you are looking at the push low. If you are looking at the upper wave, you are looking down.
If you see the most recent rise as a single wave, you are looking up.
Hourly
The uptrend was broken by a big drop.
Will it continue to fall to the recent lows or will it enter an adjustment once it does?
It is likely to rise once as there is now a long lower positive line, but many people may see a break of the 4-hour push low and come in with a sell.
Trade Strategies
Strategy①
Selling pressure is strong with a confirmed break below the 4-hour push low.
Selling back on the recent big drop.
Short after pulling back as much as possible as the market is adjusting to near the previous low.
Strategy②
If it rises once with an adjustment, wait for a return and consider shorting.
Short after the trend reversal on the lower leg and the end of the second wave is confirmed.
Strategy③
Still in a downtrend at present on the 5-minute time frame.
The situation is returning to the area of the last return high with an adjustment.
A range is forming, so jump in and go short once the lower limit is confirmed down.
