#USDJPY, downward break in Week 17, what to expect in Week 18?
USDJPY moved as expected from our analysis in Week 16, breaking through the level 1 consolidation zone.
It ended the week with a strong bearish move after the NFP and stayed low till closing.
The analysis is currently pointing to some form of potential consolidation that might happen in Week 18 as it is in the bearish zone 2 now which the rally can move about 30 to 60 pips.
Overall, the direction for USDJPY continues to be bearish, however, in Week 18, there can be opportunities for both long and short traders to profit from the market.
I would be looking for long opportunities and continue to go in on a bigger short contract when the signal arises.
I hope all traders can continue to make good profit in Week 18!
If my analysis helped you in any way, I hope you can give me a like and follow me, thanks for your support!
It ended the week with a strong bearish move after the NFP and stayed low till closing.
The analysis is currently pointing to some form of potential consolidation that might happen in Week 18 as it is in the bearish zone 2 now which the rally can move about 30 to 60 pips.
Overall, the direction for USDJPY continues to be bearish, however, in Week 18, there can be opportunities for both long and short traders to profit from the market.
I would be looking for long opportunities and continue to go in on a bigger short contract when the signal arises.
I hope all traders can continue to make good profit in Week 18!
If my analysis helped you in any way, I hope you can give me a like and follow me, thanks for your support!
Comment:
It should be end of Week 18, towards Week 19!
