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 is currently rising from the lower boundary toward the upper boundary of the triangle.
Daily
Uptrend.
The price bounced from the lower boundary of the ascending channel and rose once, but has fallen back down to the channel’s lower boundary again.
4-Hour
Downtrend.
It currently feels like the decline is pausing slightly, but there is still a possibility of further downside.
1-Hour
Downtrend.
The price has broken above the upper boundary of the descending channel and is now moving sideways.
Trade Strategies
For now, I will continue to look for pullback selling opportunities.
Pay attention to price action around the key price zones being respected.
If higher highs and higher lows form on the 1-hour chart, I will look for dip-buying opportunities.
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
EUR=USD<GBP<JPY
