USDJPY - Trend continuation next week
Hey guys, just updating on my USDJPY analysis I wrote about last week.
Price has missed my buy setup and gone up after the Fed interest rate announcement.
With that, I will be adopting a trend following approach to my trade next week.
The yellow zone represents my potential buying zone for next week.
The MA on my chart that I use to plot trend is 34 high and 34 low.
Anytime the price retest this band, at a prior support and resistance zone, it signals a buy after a pinbar completes on the pricebar.
Stops has to go below previous low.
34 high and low is my personal favorite MA settings which is based on Fibonacci.
Let's ride this trend until we are proven wrong or when a bearish harmonic pattern completes potentially above 106.
Price has missed my buy setup and gone up after the Fed interest rate announcement.
With that, I will be adopting a trend following approach to my trade next week.
The yellow zone represents my potential buying zone for next week.
The MA on my chart that I use to plot trend is 34 high and 34 low.
Anytime the price retest this band, at a prior support and resistance zone, it signals a buy after a pinbar completes on the pricebar.
Stops has to go below previous low.
34 high and low is my personal favorite MA settings which is based on Fibonacci.
Let's ride this trend until we are proven wrong or when a bearish harmonic pattern completes potentially above 106.
Trade closed: stop reached:
Went in at 102.40, stopped out at 101.80. Time for the next trade.
