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financialflagship

USD/JPY - Week 51 - Will we get a reversal?

Long
U.S. Dollar / Japanese Yen (FX_IDC:USDJPY)  
financialflagship Updated   
FX_IDC:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Chart Patterns Wave Analysis
4
0
trendanalysis chartpattern waveanalysis
USD/JPY is righteously respecting the channel area. On the Daily Timeframe we are expecting an upside move, but for the moment nothing is clear. We can see the pair heading south in the short term, before starting the daily Uptrend. We will wait for the price to break the upper line of the channel to get a better understanding of the market structure. Our advice is to be patient and maybe focus on other currency pairs for now. We will keep you posted!

Trade with care!
Financial Flagship

Disclaimer: The analysis provided is just informal and it should not be used as financial advice. You need a plan before you trade, but we assume this can help you have a better idea to where the market is heading next.
Trade closed manually:
Price is ranging at the moment.
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