USDJPY: 4H-D Technical Overview
Hello traders!
I hope you are all doing well. In this video, I am excited to share with you a detailed analysis of USDJPY on the Daily and 4H timeframes.
On the Daily timeframe, we are currently experiencing a strong uptrend (same as Weekly) and the price appears to be developing a complex pattern before resuming the bull run. We will need to exercise patience and wait for this consolidation to finish.
Meanwhile, on the 4H timeframe, we anticipate the price to make local higher highs, potentially reaching one of the two areas highlighted on the chart (FVG/4H bearish OB zone). Once this happens, we will be on the lookout for a reaction that could lead to a potential sell setup.
I will be keeping you updated on any new developments in the comment section below, so stay tuned!
As always, I urge you to trade safely and not over risk. Remember to exercise patience and wait for the pattern to fully develop before making any decisions.
Thank you and happy trading!
I hope you are all doing well. In this video, I am excited to share with you a detailed analysis of USDJPY on the Daily and 4H timeframes.
On the Daily timeframe, we are currently experiencing a strong uptrend (same as Weekly) and the price appears to be developing a complex pattern before resuming the bull run. We will need to exercise patience and wait for this consolidation to finish.
Meanwhile, on the 4H timeframe, we anticipate the price to make local higher highs, potentially reaching one of the two areas highlighted on the chart (FVG/4H bearish OB zone). Once this happens, we will be on the lookout for a reaction that could lead to a potential sell setup.
I will be keeping you updated on any new developments in the comment section below, so stay tuned!
As always, I urge you to trade safely and not over risk. Remember to exercise patience and wait for the pattern to fully develop before making any decisions.
Thank you and happy trading!
Comment:
One more move up is expected at least, but first will be waiting for a trendline reaction. Also, a MACD crossover will add extra confirmation for this scenario to unfold. Trade with care!
Trade safe!