Usdjpy is showing the bid price is getting bought at higher zones indicating the bulls are still in charge, we have now shown a break and retest of the market structure followed by a bullish engulfing candle providing we break last months high which I believe we will.
Audjpy is looking to make a new downside leg, market structure is trending to the downside and rejected my suppky level before breaking out of the wedge pattern. i have entered short as the risk to reward is great and all my trading critera's have been met. trade safe!
Daily structure is showing this pair is favouring the upside, key resistance now turned support has showed a strong reaction indicating that level has found buyers and i project for the momentum to the upside to continue. 1:4 risk to reward
from a monthly perspective the picture is pretty clear although this may take a while to play out but there is a great opportunity to go short upon the break of this monthly acending trend line after the major key level has shown numerous rejections over time indicating the market can not climb higher.
Dollar index is now in a downtrending market forming daily lower lows and lower highs, simple setup and this can be applied to dollar cross pairs also. Can we see this 3rd touch bounce.....risk to reward is looking good!