USDJPY Market Analysis and Trading Strategies.
*Personal Opinion
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Waveforms of each time leg
Weekly
A large symmetrical triangle is forming.
The price has currently bounced off the lower boundary and appears to be rising toward the upper boundary of the triangle.
Daily
Uptrend.
I am paying attention to the recent high, the last higher low, and the previous high line.
4-Hour
Overall, there is no clear trend, and a range has formed.
Looking at recent price action, lower highs and lower lows indicate a developing downtrend.
Currently, it appears to be in a corrective phase.
It is unclear whether it will be respected, but I am also paying attention to price action around the 21-period moving average.
1-Hour
The downtrend on the lower timeframes within the 4-hour descending channel has broken.
Currently, it appears to be rising toward the upper boundary of the 4-hour channel.
Trade Strategies
I will watch for price action at the upper boundary of the 4-hour channel, or if it breaks above, at the 4-hour lower high, and consider selling.
Since the price has bounced from the lower boundary of the 4-hour range, I will look for a long entry toward the upper boundary of the 4-hour channel.
Potential pullback areas include the recently observed lower highs and the 21-period moving average on the 1-hour chart.
Currency Strength
【EURUSD】4H
【GBPUSD】4H
【USDJPY】4H
【EURJPY】4H
【GBPJPY】4H
【EURGBP】4H
- EUR>USD
- GBP>USD
- USD<JPY
- EUR>JPY
- GBP>JPY
- EUR=GBP
USD<JPY<EUR=GBP
