USD/JPY ANALYSIS (read for futher clarification)
////Hi world traders, I'm Guario and this is a forecast about USD/JPY possible future price action. As it can be seen from the chart the pair has made a very fast bullish run taking the quotation from the bottom at 107.62 to the top at 110.21 in just a few days. After that the pair has dumped its volatility taking the price just a little bit over the 110.216 maximum (reaching the 110.313 level). The fact that the bullish trend has significantly slowed his run (the MACD divergence confirms) and that the sellers are gradually opening their short positions (look at the red down trendline) could sign a possible reversion, so the begging of an important downtrend (the ATR value is pretty low signing low volatility). Look at the chart for possible entry (which i suggest to set under the volumetric level of 109.92), stop and target points. Write me in the comment for any question, thought or critic. Good luck to everybody.////
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.