USDJPY Long Thesis
Weekly:
• After Creating new low price is now retracing to retest previous levels broken.
• Last week candle spike down to 108.50 psychological level but rejected and closed above 109.50 as a bearish hammer.
• More bullish movement expected.
Daily:
• Previous daily highs were taken out.
• Clean daily break of 109.70 signalling more bullish movement to come.
• Moving averages about to crossover bullish.
4hr:
• New highs at 110.162.
• After break of 109.70 now expect retest before going long to 110.47 to form a new bullish leg.
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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.