USDJPY has been floating around an area of very strong resistance.
Is momentum slowing for the bullish behavior? & where do you expect the pair to go?
There are certain chart patterns I look at from both ends of the spectrum.
There's a certain "smell" with the current chart pattern that has formed on the 4H.
Bullish then bearish then bullish but with higher...
Nice rejection off of the 114.055 price point as stated in my previous post.
Adjusting as I analyze.
The M's & W's; highs and lows; they'll take you where you need to go.
Slight movement down with a strong push to the upside. FANTASTIC.
Expecting a touch and a stretch somewhere around 114.055 and then a nice reversal.
Will continue updates as I study.
Generally speaking, I see the USD/JPY going short.
A possibility of a temporary gain starting next week then the overall weakening of the USD
over time.
But, in due time, I'll correct analysis as I study.
Based upon 2 ABCD pats. forming a long Gartley pat. and "negative" correlating pairs moving short; expecting a continuation upwards til the D is completed. Critique will be appreciated.
Well, I honestly just wanted to share it so anybody could tear it up or use as a guide. Whatever floats yer boat, I hope it helps in one way or another.
