Multi Timeframe Analysis
Trading philosophy: We don’t short at the lowest of the bearish momentum nor do we long at the peak of a bullish impulse. The safest entries are at the end of a retrace on the 38.2%, 50%, 61.8% or 78.6% fibonacci back in the direction of the D1 master trend.
Recommendation:
USDJPY has a high potential SELL entry if it corrects upward for an impulsive drop. Take a short if price hits 109.80 region and we have valid entry signals at 4H. If these conditions do not materialize, keep out of this market.
Note: USDJPY will be on a downtrend for several days to correct the upwave of the past weeks.
Trading philosophy: We don’t short at the lowest of the bearish momentum nor do we long at the peak of a bullish impulse. The safest entries are at the end of a retrace on the 38.2%, 50%, 61.8% or 78.6% fibonacci back in the direction of the D1 master trend.
Recommendation:
USDJPY has a high potential SELL entry if it corrects upward for an impulsive drop. Take a short if price hits 109.80 region and we have valid entry signals at 4H. If these conditions do not materialize, keep out of this market.
Note: USDJPY will be on a downtrend for several days to correct the upwave of the past weeks.