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U.S. Dollar / Japanese Yen
Long

USD/JPY (UJ) Analysis (Daily Timeframe)

98
The USD/JPY pair has been following a clear market cycle, transitioning from distribution to markdown, followed by accumulation, and now entering a bullish markup phase, showcasing strong bullish momentum.

Key Observations:

Market Phases:
  • Distribution Phase: The bullish move ended near the 162 level, where sellers gained control, initiating a markdown.
  • Accumulation Phase: After a significant markdown, UJ found a base around the 140 level, forming an accumulation phase with demand coming back into the market.
  • Current Phase: The pair has now broken out of accumulation and is in a bullish move, with a well-defined structure of higher highs and higher lows.

EMA Surfing and Momentum:
  • The price is currently surfing upward along the EMAs, showing strong trend-following behavior with EMAs acting as dynamic support.
  • The tightening of the EMAs during the accumulation phase has now expanded, supporting the continuation of the bullish move.

Scenarios to Watch:
  • Continuation to Targets:
    USD/JPY could continue its bullish momentum toward the short-term target near 159 and potentially the medium-term target around 162. This aligns with the ongoing strength in the USD and the current bullish structure.
  • Pullback for Reaccumulation:
    A potential retracement could act as a reaccumulation phase, gathering liquidity before resuming the uptrend.



TraderOuss_LumaNex
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ForexforexmarketTechnical IndicatorsTrend AnalysisUSDJPYusdjpyanalysisusdjpylongDJ FXCM Index

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.
ForexforexmarketTechnical IndicatorsTrend AnalysisUSDJPYusdjpyanalysisusdjpylongDJ FXCM Index
TraderOuss_LumaNex
🌟 Join our trading community for insights, strategies, and market updates! 🚀 discord.gg/eWPngqQsZS 🌐
Also on:

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.