USD/JPY EYE'S PREVIOUS RESITANCE LEVEL BUT MARKET TENDS TO MOVE
USD/JPY EYE'S PREVIOUS RESITANCE LEVEL BUT MARKET TENDS TO MOVE SIDE WAYS...
August 25/2021
While support and resistance could be the key major entry point in taking a position, forex market traders are however, very much interested in taking careful attention, before placing a trade.
On a more serious note experience forex traders know very well that it's best to go long when the market price is presently at the support and go short when the price of the market is rallying around the resistance zone.
But for the case of USD/JPY the pair hasn't fully shown it upper hand towards enabling forex traders to make cognizant decision as to which direction to follow.
Where market structure and key major entry level are the fundamental of every successful trades.
The overall condition of the USDJPY pair still confirm a tight volatility price condition. Although there are significant key entry point that can foster trading decision but the nature of the market structure head sideways.
Despite the positive economic data report and releases of the US economy, these news update find it hard to skyrocket a bullish motion for the currency pair.