colinsheen
Long

#USDJPY a definite buy

FX:USDJPY   U.S. Dollar / Japanese Yen
54 1 3
I'm still holding a general USD bullish stance, USDJPY             since it's bounce from multiple wave confluences, I have turned bullish since then. Price is slowly grinding higher, which is what I always loved to see. I was not able to enter again at 118.90 as per my previous idea.

USDJPY             dipped to new low last thursday, but saved by US CPI             data, it bounced impulsively from 118.05 low. Note that 118.20 is the 0.618 of the 116.072 to 121.728 rise AND 1:1 of 121.728 to 120.168 drop. And price rebounded impulsively at nearby level, this is the main reason i turned bullish USDJPY             .

Tirangle is no longer the case.


Comment: broadbased USD strength help this pair to move up. move stop to 119.6 just below today's low
I like your point of view, but I'm not really that confident. I see a possible bearish divergence in H4 graph, maybe we should wait a bit. Check it out and tell me what you think. Regards.
+1 Reply
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