The USDJPY has been on a stable Bull Trend on the Weekly Charts.
Of interest is the 2 recent candlesticks - Spinning Top and a Long Legged Doji . Both are suggestive of the market wishing to pause the uptrend.
The pair appears to be overbought, and I recognise the buyers are well in control.
What I am looking for is a correction to take price back to the near term equilibrium placing buyers and seller in equal control .
This is represented by the Tenkan Sen at 1.3175 , and a Fbionacci .50 level retracement.
Of interest is the 2 recent candlesticks - Spinning Top and a Long Legged Doji . Both are suggestive of the market wishing to pause the uptrend.
The pair appears to be overbought, and I recognise the buyers are well in control.
What I am looking for is a correction to take price back to the near term equilibrium placing buyers and seller in equal control .
This is represented by the Tenkan Sen at 1.3175 , and a Fbionacci .50 level retracement.