USDJPY has proved to be the biggest winner amongst the four pairs that we have analyzed in week 50. I caught the first drop till level 2. I missed the drop from level 2 to level 3 because I was expecting a longer consolidation. If you have shorted in week 51, congrats to you for a very profitable week.
USDJPY ended the week with consolidation at level 3, I am unsure if it will go on to level 4 instead. Using the usual form of analysis, we should expect a reversal at this level, and we have also seen a reversal pattern of W. However, I am unsure why I am not very confident about this reversal, thus, I will be waiting for a retouch to the low of level 3 zone with the correct candlestick combination before I go in long for USDJPY .
According to my analysis, we can expect a reversal or upward move for USDJPY . My personal opinion would be for us to wait and see the movement coming ahead. If its a persistent downtrend, it can extend way below level 3. I am personally not too confident of the rise, however, from my knowledge and experience of using my trend analysis, my personal hunch can be wrong at times. Therefore, you can wait for a candlestick pattern near the low of level 3 consolidation or you can try and refrain from trading in week 52 and wait for a clearer picture.
If you have any thoughts on USDJPY's movement for the coming weeks, please share them below, I look forward to learning and staying profitable together. Please help me like and follow me for my weekly updates!
USDJPY ended the week with consolidation at level 3, I am unsure if it will go on to level 4 instead. Using the usual form of analysis, we should expect a reversal at this level, and we have also seen a reversal pattern of W. However, I am unsure why I am not very confident about this reversal, thus, I will be waiting for a retouch to the low of level 3 zone with the correct candlestick combination before I go in long for USDJPY .
According to my analysis, we can expect a reversal or upward move for USDJPY . My personal opinion would be for us to wait and see the movement coming ahead. If its a persistent downtrend, it can extend way below level 3. I am personally not too confident of the rise, however, from my knowledge and experience of using my trend analysis, my personal hunch can be wrong at times. Therefore, you can wait for a candlestick pattern near the low of level 3 consolidation or you can try and refrain from trading in week 52 and wait for a clearer picture.
If you have any thoughts on USDJPY's movement for the coming weeks, please share them below, I look forward to learning and staying profitable together. Please help me like and follow me for my weekly updates!
