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USDJPY Analysis May 17, 2020

Long
FX:USDJPY   U.S. Dollar / Japanese Yen
On the monthly timeframe we are still bearish and are just finding a lot of buying pressure at a weekly level of support! On the weekly timeframe we formed an inverted hammer, this is a reversal candle and we could see some upwards movement! On the daily timeframe overall we are still bearish but there has been quite a bit of bullish pressure off the support level. On the H4 timeframe we have a break of structure and our first potential HL! We are looking to go LONG!
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