We can see strong support at the blue area, and a possible head and shoulder pattern happening at the 4h chart. Look for bullish confirmations before entering.
Bull trade is null if prices breaks support or strong rejection happens during the climb up. Trade safe!
Long position possible, will wait for confirmation before entry. 3 possible outcomes! 1) Clear breakout with no pullbacks. 2) Breakout with a chance to re enter during a pullback. 3)Bulls fail and goes south
OANDA:USDJPY
USDJPY bullish scenario still possible, despite last week trade idea hit the stop loss. There is a possible inverted head and shoulder formation forming on the 1hr chart. 107.383 is when the bullish scenario is not valid. TP is targeted for medium to long term targets, depending on the breakout
OANDA:USDJPY
USDJPY has been consolidating for many weeks without significant direction. There is a long term buy trade opportunity in USDPY. If you are not comfortable holding, short term is fine too. Unless price breaks 107.643, then it could be a fake breakout and bulls idea are invalid. In the 1hr chart there is a cup and handle pattern forming as for now.
OANDA:XAUUSD
Long potential targets for Gold upside, take opportunities to enter long when there are visible confirmation signals/patterns on the smaller time frames. If Gold break 1693, then we might need to see if the downside isnt false breakout before entering short position.
