Disclaimer: This is not professional financial advice; it is purely my personal opinion. Please consult a qualified financial expert before making any trading decisions.
Initially, I planned to go long on USD/JPY based on the bullish momentum observed in the 4-hour time frame. However, the external structural high struggled to break, signalling potential weakness. Soon after, price action began forming lower lows, confirming a shift in structure to the downside.
A solid change of character (ChoCh) occurred following a liquidity sweep on the opposite side of the chart, reinforcing the bearish outlook. Given this shift, I adapted my strategy accordingly, favouring a short position.
Additionally, unexpected news from the Eurozone impacted USD pairs, accelerating price movements beyond my anticipated entry. This volatility was likely driven by macroeconomic factors, including a Dow Jones report on tariffs that may have influenced broader USD sentiment.
Key Takeaways:
Bearish Structural Shift – Lower lows formed after failure to break external structural highs.
Change of Character (ChoCh) – Liquidity sweep indicated a momentum shift.
Fundamental Influence – News from the Eurozone and tariff-related updates impacted USD pairs.
I'll be monitoring further price action to confirm bearish continuation and potential re-entry points.
#USDJPY #Forex #PriceAction #LiquiditySweep #MarketStructure
Initially, I planned to go long on USD/JPY based on the bullish momentum observed in the 4-hour time frame. However, the external structural high struggled to break, signalling potential weakness. Soon after, price action began forming lower lows, confirming a shift in structure to the downside.
A solid change of character (ChoCh) occurred following a liquidity sweep on the opposite side of the chart, reinforcing the bearish outlook. Given this shift, I adapted my strategy accordingly, favouring a short position.
Additionally, unexpected news from the Eurozone impacted USD pairs, accelerating price movements beyond my anticipated entry. This volatility was likely driven by macroeconomic factors, including a Dow Jones report on tariffs that may have influenced broader USD sentiment.
Key Takeaways:
Bearish Structural Shift – Lower lows formed after failure to break external structural highs.
Change of Character (ChoCh) – Liquidity sweep indicated a momentum shift.
Fundamental Influence – News from the Eurozone and tariff-related updates impacted USD pairs.
I'll be monitoring further price action to confirm bearish continuation and potential re-entry points.
#USDJPY #Forex #PriceAction #LiquiditySweep #MarketStructure
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.
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.