Here is my SWING Technical analysis of the market!
1) USD-JPY 1 Day Timeframe:
USD-JPY is trading in an uptrend in a rising channel
Which suspiciously resembles a massive bear flag
But as long as the support remains unbroken
I am bullish on the pair and I am expecting the uptrend to continue
(see link to Part 1 attached below)
As we found out in Part 1,the FED and The Treasury added 5.3 Trillion dollars to the money supply, with 3 Trillion Dollars being spent, not invested and all that coming from borrowing, not taxes, which would have created price inflation even without the supply shock....
The fears of inflation are now the reality, with the official FED number showing that inflation went from 1.6% in 2020 to 4.2% in April 2021, which means that the situation "on the ground" is even worse. Even just by looking at the charts of lumber, copper , and other commodities , while finding out that all...
Japanese Candlesticks are thought to have been invented by the Japanese rice traders
And then made their way into the West where they were used for stocks, forex and commodity trading.
Reading candlesticks is quite easy: the body represents an area that indicates the price distance between the open and...