Last week we called for shorts below the 109650 level, we should be looking for a bounce as we come into the 50MA, R1, the retracement levels and the low of the range.
For this asset we should be looking for some consolidation and a breakout of these regions to the upside before we take a long position.
All the best,
The USDJPY has shown strong resilience to uncertainty and bearishness in the market; this is a long only asset in my eyes. We identified a potential range which we saw price break out of, any pullbacks on this asset is a buy. Pullbacks can be quite strong so wait for some buying confirmation before taking a long position.
all the best,
The probabilty of a long trade is high because the market has come very close to the support line and has not broken past that.
The market is at a bullish uptrend.
The last bearish candle has not exceeded the bullish candle.
As mentioned before I am new to trading so any feedback is welcome :)
Monfex is at your service and today we overview USD/JPY.
First bullish scenario:
USDJPY will break the resistance zone and close 12H candle above it, with fix. Then return to the ex-resistance zone for test and it will be the best moment for a long position. We have a small gap zone that is need to be filed.
Second bearish scenario: