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.
It is currently rising from the lower boundary toward the upper boundary.
Daily
Uptrend.
After a period of sideways consolidation, the price has now risen with a large gap, reaching near the recent daily high.
4-Hour
The week opened with a gap of about 185 pips, and the price has been rising without filling that gap.
Many traders are likely looking for dip-buying opportunities, so there is a strong possibility that the price will continue to rise.
However, if it starts to fall, a sharp drop to fill the gap can be expected.
1-Hour
The chart once suggested a possible decline, but it turned out to be a false signal, and the price is now rising.
Trade Strategies
Looking for dip-buying opportunities on the lower timeframe.
Be cautious, as the recent daily high line is likely to act as resistance.
If a double top pattern forms, I will look for a short entry expecting a gap fill.
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
JPY<EUR<USD<GBP
