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
The price is moving within a symmetrical triangle.
The price has bounced from the lower boundary of the triangle and has risen toward the upper boundary.
Daily
Uptrend.
After a period of sideways consolidation, the price surged from the lower boundary of the channel and is now breaking above the recent daily high.
4-Hour
Uptrend.
The price keeps rising steadily without making any significant pullbacks.
1-Hour
The price continues to rise without filling the roughly 200-pip gap.
Trade Strategies
I will wait for a pullback before looking for a long entry.
If the price continues rising from here, entering now would likely result in buying at the top, so I’ll stay on the sidelines for the moment.
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<GBP<USD
