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Seeing a Strong Buy Formation on USDJPYAs we can see, the moving averages are lined up nicely for a buy. Whenever the smallest moving average is on the bottom and so on and so fourth, it tends to indicate that the market is signaling a reversal to the upside. Just bored, on this Sunday morning so I'm trying to give my bias. Hopefully someone has a takeaway from this idea.
USDJPY Long - FlashcardUSDJPY Long - Direction: Has been in a Bullish cycle for 3 1/2 days. Pair was showing bullish momentum on the H1 and H4. Entry: Double Bottom pattern formed at H1 OB (can be seen on the M15). Divergence and shark-fin shown on TDI, with the RSI line also crossing the Signal Line, giving me a confirmation. Furthermore, entry candle closed above 13 EMA, which gave me another confirmation. SL @ 22 pips below Entry, and TP @ 31 pips above Entry.
USDJPYH4. We have seen a big push to the upside this week. There may be some pullbacks. I would see what happens when the price will start moving around the two blue areas. I will be looking for some sign of bullish pressure around those areas if it will not be shown this analysis becomes invalid. Trade safely and manage your risk!