usdjpy is in a strong downtrend that can be going into correction anytime soon since we are about to reach a major support zone, but looking at smaller time frames, on the 4 hour chart we have a breakout and retest of structure. looking for shorts after a strong bear candle with sell stops a couple of pips under. i would get out the trade using heiken ashi charts on the first sight of a green candle. heiken ashi candles have a tendency to repeat themseles. or just run lower time frames but i wouldnt be surprised if in the next few days we see a pullback on the daily chart. i believe the market will go a bit lower before the pullback though since we are still high on the support zone so we will most likely be getting closer to it. but on the break to the upside i am expecting a very long term bull
Comment:
lower lows have been rejected. either way there are pips to be made in the pair so keep a close out for a break on the upside
Order cancelled:
no retest bear candle so we can look into longs on the upside breakout
Comment:
sucessful analysis #1. my first analysis ever on tradingview was a sucess. just counting.its getting close to three months ago!
David K Giraldo
