Currency Pair : USDJPY
Possible direction : Bearish
Technical Analysis : After a strong breakdown on the daily ( strongly influenced by JPY strength) USDJPY currently forming a symmetrical triangle which may break to the downside again as this may continue to trend to the downside to test the long term order block. From higher timeframe we can see possible...
#USDJPY
- By this time USDJPY was very well BUY with US ECONOMIC DATA being POSITIVE. And FED UPDATES were very POSITIVE. So the JPY automatically went down. The other reason is that MARKET RISK is OFF. And JPY WEAKNESS came according to their ECONOMIC PROJECTION. Therefore, with the SENTIMENT in the MARKET, the JPY became WEAK in a very short time.
- At...
#USDJPY
- By this time USDJPY was very well BUY with US DATA being POSITIVE. So the JPY automatically went down. The other reason is that MARKET RISK is OFF.
- At the moment, the MARKET is taking a bit of RISK OFF, that's why the JPY is going up. According to the USDJPY ANALYSIS we gave earlier, the USDJPY UPSIDE WAVE is going UP around 90 ++ PIPS. I hope...
MACD4c on 1D chart, is giving a sell signal , the contracting triangle can break on any directions but there are more possibilities that it will bo down as it's a downtrend. It's a very good risk reward setup :)
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