USDJPY: Let's Long After a Correction!
Hello traders,
Japan with it's monetary policy provided great profit for traders so far. It's going to end soon or late and rates might reverse. We had heard relatively good news about Japan Yesterday. But I think It's soon to consider JPY bullish and thus the USDJPY bearish!
The bullishness is clear in it's daily chart:
1- Bullish channel
2- Broken Mid-line
3- Broken Resistance
4- A bullish trend line
The mid-term chart is bullish too! This channel in the 2h chart is just a guess! A broken mid-line (which is actually the bottom line of the channel) is not a good news, However, I consider it as liquidity hunt.
Regarding the current chart we are ready to long the pair to targets of 161.750 and top of the channel. We might have fluctuations around US FED chair Powell Testifies.
Japan with it's monetary policy provided great profit for traders so far. It's going to end soon or late and rates might reverse. We had heard relatively good news about Japan Yesterday. But I think It's soon to consider JPY bullish and thus the USDJPY bearish!
The bullishness is clear in it's daily chart:
1- Bullish channel
2- Broken Mid-line
3- Broken Resistance
4- A bullish trend line
The mid-term chart is bullish too! This channel in the 2h chart is just a guess! A broken mid-line (which is actually the bottom line of the channel) is not a good news, However, I consider it as liquidity hunt.
Regarding the current chart we are ready to long the pair to targets of 161.750 and top of the channel. We might have fluctuations around US FED chair Powell Testifies.
Note
In ProfitNote
In great Profit! I've just closed some of my LTF positionsNote
Move SL to 161.300Trade closed manually
As you might have guessed, MY trailing SL at 161.300 did not work properly!But totally it was a great deal.
Thank you dear followers.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.