Looking at the bigger picture USDJPY are channeling up which mostly will going up from this point . But price fail to break above 113.000 to valid this idea instead it goes side away .
Looking at the lower time frame (4H) we can see that price fail to break above previous Higher high and fail closed below previous Lower Low which indicate the power seller and buyer are equilibrium .
Based on candles candlestick pattern we can identified the present Hammer ( Pin Bar ) on the Support Level . If price do valid this Hammer (Pin Bar ) there is a chance price will move above previous HH .Then looking opportunity to go Long .
If price break and closed below support level , this indicate seller are taking charge . Then looking opportunity to go short .
Conclusion ;
Stay away for a short time , wait until price conform good entry .
Disclaimer;
Please don't follow my idea trading without any proper plan and if do please consider the risk of losing money .
Looking at the lower time frame (4H) we can see that price fail to break above previous Higher high and fail closed below previous Lower Low which indicate the power seller and buyer are equilibrium .
Based on candles candlestick pattern we can identified the present Hammer ( Pin Bar ) on the Support Level . If price do valid this Hammer (Pin Bar ) there is a chance price will move above previous HH .Then looking opportunity to go Long .
If price break and closed below support level , this indicate seller are taking charge . Then looking opportunity to go short .
Conclusion ;
Stay away for a short time , wait until price conform good entry .
Disclaimer;
Please don't follow my idea trading without any proper plan and if do please consider the risk of losing money .
Comment:
waiting price to pullback then ready to go Long
waiting price to pullback then ready to go Long
Trade active
If price break and closed above 112.858 , then looking opportunity to go Long .