We are LONG on USDJPY since the start of the year.
Price rallied and broke the structure, any BUY looks valid after 4h corrective structure.
700+ Trade for the next 2 months.
Follow for more, and trade with care.
The bullish momentum can't end here, we need to tackle some of the higher liquidity pools before we can consider a reversal.
I expect the price to pull back into the order block region marked before continuing to the upside.
Ive worked down in timeframes.
On the 4H, Price is sitting around 105.050 region, which has previously acted as a key Support Zone.
On the 1H you can see a clear descending channel, which price broke today. We are expecting price to retrace back into the channel.
The Stochastic indicator is clearly showing an oversold market on both 4H, 1H and 15min.
Any oversold move like this is going to attract a huge amount of sellers into the market.
I would like to see a significant pullback into the optimal buying point marked so we can lure some more sellers into the market before shooting to the upside to target some sellers stops.