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.
The price has bounced from the lower boundary of the triangle and has risen toward the upper boundary.
Daily
Uptrend.
The price has finally reached the upper boundary line of the weekly triangle.
Even if it continues to rise, a pullback is expected first.
4-Hour
Uptrend.
The price keeps rising steadily without making any significant pullbacks.
1-Hour
Uptrend.
It currently appears that the upside momentum is starting to weaken.
Trade Strategies
I will wait for a pullback in the currently forming minor uptrend before considering a long entry.
If the uptrend on the lower timeframe breaks, I will look for a short entry.
However, it is likely just a correction on the higher timeframe, so there’s a risk of getting caught in the next upward move — caution is advised.
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
