xunnobi
Long

USDJPY, Week 12 was bearish, can it change for Week 13?

FX:USDJPY   U.S. Dollar / Japanese Yen
Before I begin, a big apology to my fellow traders as I did not post the analysis for Week 11. I was in one of the broker's annual dinner hosted in Malaysia and I did not have my laptop with me, thus I didn't present my analysis for week 12. But nonetheless, I traded and I hope all other traders profited from the up and down movement. So lets us dive into the analysis for Week 12 now and see what can we learn for our trades in Week 13.

USDJPY seems to have reset the prevailing trend and move back up which creates another reversal pattern in Week 11, pointing to the direction that the pair would drop .

In Week 12, USDJPY continues the bearish trend and ended the week with a new low and a possible level 3 bearish zone which is the zone where the pair would have its reversal from bearish to bullish .

There is no pattern being formed and no other possible signal that we can spot here, so we should continue monitoring and no entry for USDJPY for the time being.

It would be good to wait till the formation of a reversal pattern before we decide to trade USDJPY , however, the general direction for Week 13 would be bullish for the time being.

I hope you guys continue to make a great profit in Week 13, and please help me to like and follow me if my analysis helped you in any way! Thank you!
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