This week's strategy involves following the ongoing bearish trend in USDJPY. I plan to initiate sell positions around the newly formed 4-hour supply zone. To execute this, I'll wait for a redistribution pattern to unfold and a clear CHOCH signal before considering a sell. It's important to note that there's a possibility of price pushing higher to test the 14-hour...
USDJPY | Large Structure Area Price is developing between 142.60- 143.70 A break out above the resistance 143.70 will push further up to 144.90 A break below the 142.60 support zone will push further up to 141.60 However, you should be careful as the market will take the next direction related to the FOMC expectations. Thank you and Good Luck!
I am expecting USDJPY to continue its long term bullish trend towards 121.253 and beyond. USD strength is still extremely high and investors continue to sell riskier assets and currencies. I do expect a price pullback at market open to one of the demand zones that I have marked on before this moves.
It is better to look buying opportunity on it till it is above the trend line.