Following the completion of the move, it then makes a movement that took back the move made during the first half of the week. What a strong bull we are seeing!
Traders who took short positions would have made a good profit, before getting out, and traders taking long trade would have made a good profit as well. Week 15 is indeed profitable for both sides of the market.
While a strong bull came in and made a new level, the analysis pointed us to expect some form of consolidation before the price continues its upward trend.
For that matter, I am placing a neutral outlook for USDJPY as some form of consolidation is expected before the upward move. In addition, it is quite a big range between the low and the high of level 1, so being cautious and wait for a good entry to long might be the better option now.
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