Jal121

USD/JPY - Bullish cycle imminent?

OANDA:USDJPY   U.S. Dollar / Japanese Yen
USD/JPY - 4HR Chart

We've seen a bounce off our long term ascending trendline. Bullish cycle upwards imminent? Will we see price follow our forecasted price path?

Do not use trendlines alone to take trades, however - they can be great to help you identify the trend on the HTF.

Comments

Ill be looking for heavy PA on the trend line for a possible short.
If you look at the pull back its more severe than the last 2 pull backs. I feel buyers might be running out of steam.
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