Forex_League

USDJPY Analysis June 28, 2020

Long
FX:USDJPY   U.S. Dollar / Japanese Yen
USDJPY: On the monthly timeframe we are approaching the end of the month. This month looks to be closing with a doji continuing to show signs of reversal. Down to the weekly timeframe we can see structure still shows bearish. Last week closed resisting the weekly key level. On the daily timeframe we overall are still in a downtrend. We could pullback here to the 61.8% area but we don’t break structure endless our upper red zone is broken. On the H4 timeframe we slightly broke structure but need to confirm the break again before look for long opportunities.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.