US dollar to the Japanese yen showing us the same as most of our other US dollar correlated pairs which is a major gap at market open in this case we open low and we have stayed low since we have technically fulfilled the gap and fulfilled the low of the open itself so overall we should be set for some more true directional price action of course it is AUS bank holiday so we're not expecting anything huge as stated in our other markups we are going to be looking more towards Tuesday rather than Monday session, Collectively we are going to have a swing range high if we break this 5 minute range down if that happens we can then confirm a bullish bias for this pair but at the moment I am thinking that we may break lower and make internal price action which will eventually overrule the bullish swing narrative that we have until that happens we'll follow what price action shows us and we'll continue to read what price is telling us.
Remember to always read order flow and follow what price is showing you instead of trading based on your desired direction. And, as always, stick to your risk and your plan.
We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
Remember to always read order flow and follow what price is showing you instead of trading based on your desired direction. And, as always, stick to your risk and your plan.
We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
