USDJPY 107.486 -0.01% LONG IDEA

Good Day Everyone

Here's a look at the USDJPY pair from multiple time frame perspective

MONTHLY

* On the monthly we are trading in a descending triangle pattern ranging within the structure no straight forward decisive direction on the pair we have a bearish candle forming as we continue ranging within the structure.

WEEKLY

* On the weekly the pair takes some shape in direction to an extent as we saw another bounce or rejection at 61.8% Fibonacci level the pair is rallying up as the jpy gained against the dollar targeting that 50% Fibonacci level as we determine a bullish sentiment on the pair we might just pull back before continuation to the upside.

DAILY

And as we enter the day chart we see a rejection just above the 38.2 % Fibonacci level as the US remains the safe heaven for investors-possibilities of a push down are still in the cards but looking for long positions on the pair


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ENTRY & SL - FOLLOW YOUR RULES
RISK-MANAGEMENT
PERIOD - SWING TRADE

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Comment:

ON THE MONTHLY

Comment:

ON THE WEEKLY

Comment:

ON THE DAILY

Trade active:

looking for significant moves to the upside as a trigger for the trade currently we are ranging on the pair