USDJPY Daily Analysis - Long and Short Opportunities
USDJPY could now be in a bullish phase on the daily since bullish candles have moved from consolidatory behavior to more impulsive, sharp movements.
This pair has broken out of the trend line you see on the chart which gives and indication for us to get in long. However I feel the pair may be a tad exhausted from prior impulses so would prefer to reduce my risk and buy the pullback and/or any consolidation that may follow.
We have bullish divergence on the daily which gives other another indication that price wont stop here and may keep pushing higher.
Use buy zone 2 if price fails.
It has been a very strange couple of weeks on Planet Earth - with American voters choosing their new president. One would think that if someone with no political experience, a track record of extorting people, exploiting the system to avoid paying any tax, and generally being an undeniable loose cannon AND a class 1 d*** was voted into the oval office, the markets would see this negatively.
However the markets have seemed to outperform both logic and reason, pushing USDCAD out of its daily correction in the opposite direction than most of us anticipated while other USD pairs have also seen dollar bulls have a party.
This pair has broken out of the trend line you see on the chart which gives and indication for us to get in long. However I feel the pair may be a tad exhausted from prior impulses so would prefer to reduce my risk and buy the pullback and/or any consolidation that may follow.
We have bullish divergence on the daily which gives other another indication that price wont stop here and may keep pushing higher.
Use buy zone 2 if price fails.
It has been a very strange couple of weeks on Planet Earth - with American voters choosing their new president. One would think that if someone with no political experience, a track record of extorting people, exploiting the system to avoid paying any tax, and generally being an undeniable loose cannon AND a class 1 d*** was voted into the oval office, the markets would see this negatively.
However the markets have seemed to outperform both logic and reason, pushing USDCAD out of its daily correction in the opposite direction than most of us anticipated while other USD pairs have also seen dollar bulls have a party.