JosePips

USDJPY POTENTIAL LONG OPPORTUNITY (4H CHART)

Long
FX:USDJPY   U.S. Dollar / Japanese Yen
USDJPY POTENTIAL LONG

WHEN DOING MY ANALYSIS FOR THIS WEEK AND WATCHING WHAT THE GLOBAL CURRENCIES WERE DOING I HAD SPOTTED THAT USDJPY IS AT A SIGNIFICANT LEVEL OF SUPPORT ON THE DAILY AND WEEKLY TIMEFRAME , WITH RECENT SIGNS OF BUYER INTEREST ON THE 4H CHART. IF YOU TAKE A LOOK YOU CAN SEE THAT PRICE HAS BEEN STOPPED AT THIS LEVEL OF STRUCTURE AND SAW A SIGNIFICANT BUYER PUSH TO THE UPSIDE ON THE 4H, MAKING A 100% REST FROM THE SELLERS. BY WHAT THE MARKET IS DISPLAYING TO ME BASED ON MOMENTUM ITS SHOWING ME THAT THE BUYERS ARE STARTING TO FIND INTEREST AT THIS PREVIOUS EMOTIONAL LEVEL OF SUPPORT. IT'S CRAZY BUT THE MORE YOU READ THE MARKETS AND HAVE EXPERIENCE WATCHING THE CONSISTENT PATTERS THEY HAVE YOU CAN START TO SPOT THE AREAS THAT THE "TIDE MAY TURN". KEEP AN EYE ON THIS CHART FOR A CONTINUE BUYER INTEREST IN THIS PAIR. THIS GIVES US A HIGHER PROBABILITY OF A PROFITABLE POSITION DUE TO THE FACT THAT THE MARKET ALWAYS TELLS US WHAT IT WANTS TO DO NEXT. IT'S CALLED (MOMENTUM) !! KEEP AN EYE OUT AND LOOK FOR EITHER SMALL RE-TEST CONTINUED TO THE DOWNSIDE WITH WEAK SELLER POWER OR JUST A STRAIGHT PUSH TO THE TARGETS.

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**REMEMBER TO ALWAYS USE YOUR OWN LEVEL OF RISK BASED ON WHAT YOU YOURSELF OR A FINANCIAL ADVISER HAS RECOMMENDED. NOT A PROFESSIONAL ANALYST JUST A MAN THAT HAS BEEN TRADING FX FOR 7 YEARS. TRADE AT YOUR OWN RISK**
Trade active: AS WE CAN SEE USDJPY HAD SHARP PUSH TO THE DOWNSIDE FROM SELLERS. DID NOT BREAK MAJOR LEVEL OF STRUCTURE ON DOWNSIDE AND AS YOU SEE HAD A VERY AGGRESIVE PUSH BACK TO THE UPSIDE ABOVE RECENT STRUCTURE ON 4H TIMEFRAME. KEEP AN EYE ON THIS PAIR FOR A WEAK SELLER RE-TEST AND IF BUYER INTEREST CONTINUES THAN PUSH TO THE UPSIDE TARGETS. KEEP AN EYE OUT. CHEERS!
Comment: USDJPY COMING INTO TARGET 1 ZONE, CHEERS!
Comment: PASSING THROUGH TARGET 1 ZONE MAKING SURE IT HOLDS ABOVE AND THEN ON THE WAY TO TARGET 2 ZONE
Comment: USDJPY HAD SLIGHT PULLBACK ON DAILY TIMEFRAME BUT BUYER STRENGTH COMING BACK IN SHOWING INTEREST STILL LOOK FOR THAT PUSH INTO TARGET 2 ZONE CHEERS!

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