RaynLim

USDJPY-Weekly Market Analysis-Jan22,Wk4

Long
FX:USDJPY   U.S. Dollar / Japanese Yen
A Type 2 Bullish Shark Pattern has formed in the USDJPY 4hourly chart. A type2 Harmonic Patterns mean that the market has fulfilled at least Target1 of the entire setup. At times we can have a weaker(slower) move towards the upside.

On the 1-hourly chart, you could plot a trendline and set an alert to wait for a break and close above the trendline as an additional filter for your long entry.

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