USDJPY is likely bullish on Monday.
Technically - Chart patterns and price actions
1H TF created a double bottom or support level then bounce up...
In Fib retracement, It pulls back at a 50% level, plus a bullish engulfing candle shows that
Fundamentally:
The US (PPI) measures the change in the price of goods sold by manufacturers... The result was 0.7% higher than the forecast level. A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.
What's your analysis guys?
I will enter anytime on Monday
Stop loss below the Estimated trading area (support)
Trade with risk management
Technically - Chart patterns and price actions
1H TF created a double bottom or support level then bounce up...
In Fib retracement, It pulls back at a 50% level, plus a bullish engulfing candle shows that
Fundamentally:
The US (PPI) measures the change in the price of goods sold by manufacturers... The result was 0.7% higher than the forecast level. A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.
What's your analysis guys?
I will enter anytime on Monday
Stop loss below the Estimated trading area (support)
Trade with risk management