USD/JPY, Long based on Monthly Chart, Enter after Dec FOMC
Based on Monthly Chart (Candles), it looked like a confirmation of bullish might appear.
But wait until November monthly candle actually completed.
Based on the information above,
I would enter long.
I would enter long ... may be in 2nd week of December.
I would not enter in the 1st week of December,
because based on weekly chart, it looked bearish ... it could go down, it could stagnate ...
And also,
there are not going to be many major news due in that 1st week of December.
The news (economic news) ... the one I'd pay attention to are:
- Japan Manufacturing PMI released 1 Dec 12.35 (Melbourne AU) time.
- and GDP Japan released 8 December 10.50 (Melbourne AU)
PMI could create a little - medium reaction.
GDP could create a little more than PMI.
Therefore, I'd personally wait until the GDP news is released and wait for weekly chart to be established before jumping in for 1-2 days in the second week of December.
But wait until November monthly candle actually completed.
Based on the information above,
I would enter long.
I would enter long ... may be in 2nd week of December.
I would not enter in the 1st week of December,
because based on weekly chart, it looked bearish ... it could go down, it could stagnate ...
And also,
there are not going to be many major news due in that 1st week of December.
The news (economic news) ... the one I'd pay attention to are:
- Japan Manufacturing PMI released 1 Dec 12.35 (Melbourne AU) time.
- and GDP Japan released 8 December 10.50 (Melbourne AU)
PMI could create a little - medium reaction.
GDP could create a little more than PMI.
Therefore, I'd personally wait until the GDP news is released and wait for weekly chart to be established before jumping in for 1-2 days in the second week of December.