nmike

USD / JPY monthly update

Long
FX:USDJPY   U.S. Dollar / Japanese Yen
24
Here I've combined CLONING with TREND LINES .The current candle pattern,which is the first thing I look at, is clearly in a bullish trend . A pull back to one of the red support lines is possible. IF USDJPY can rise and close above reference channel and clear the nearby trend line , the next near term target is the trend line just above. The DPO (13)monthly above / below mid-point works quite well as a trend change indicator, with some instruments you might have to play around with look back periods.On weekly and daily I usually set it at 21.

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