USDJPY Top Down Analysis Week 4 / 24' đź‘»
Updated
USDJPY dropped dramatically in December.
Intro 0:0
Monthly timeframe 0:30
Weekly 5;14
Daily timeframe 6:02
4hr timeframe 7;52
1hr timeframe 10:16
As we near the end of January, UJ has seen an increase. Its' been quite generous. However we must be cautious as UJ looks a bit over-extended. Fridays daily candle suggested profit taking as it closed a shooting star candle. If we combine this with the increase of 600 pips across the last 3 weeks, we can observe why maybe we should be cautious. Then again, yen pairs move wild so expect the unexpected.
Intro 0:0
Monthly timeframe 0:30
Weekly 5;14
Daily timeframe 6:02
4hr timeframe 7;52
1hr timeframe 10:16
As we near the end of January, UJ has seen an increase. Its' been quite generous. However we must be cautious as UJ looks a bit over-extended. Fridays daily candle suggested profit taking as it closed a shooting star candle. If we combine this with the increase of 600 pips across the last 3 weeks, we can observe why maybe we should be cautious. Then again, yen pairs move wild so expect the unexpected.
Note
UJ pulled back, as expected and covered in the video analysis 
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