USDJPY Market Analysis and Trading Strategies.
*Personal Opinion
I use “XMTRADING” as my trading tool.
It is my personal most trusted trading account and is used by many professional traders.
I use “TradingView” as my analysis tool.
Registering an account gives you access to many features for free.
Waveforms of each time leg
Weekly
A triangle consolidation is forming, and the price is currently moving from the lower boundary toward the upper boundary.
Daily
The overall trend is upward, and recently the market has been moving sideways in consolidation.
Since the price has reached the lower boundary of the ascending channel, there is a possibility that upward momentum may strengthen from here.
4-Hour
The broader trend is a range, and although a downtrend had recently formed, the price has broken above the upper boundary of the descending channel, suggesting that the downward momentum is weakening and there is a possibility of a shift to the upside.
1-Hour
An uptrend seemed to be forming, but it was followed by a sharp decline, leaving the market without a clear direction.
Attention should be paid to the price action near the lower boundary of the ascending channel.
Trade Strategies
I aim to target the initial buy orders, expecting the downtrend to shift into an uptrend.
Since the lower boundary of the ascending channel overlaps with the return move line of the descending channel, I will focus on the price action around that area.
On the 15-minute chart, higher highs and higher lows are forming, indicating an uptrend.
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
USD<EUR<JPY<GBP
