xunnobi

#USDJPY, long and short in Week 15, remain bullish in Week 16?

FX:USDJPY   U.S. Dollar / Japanese Yen
USDJPY moved as expected for the first half of Week 15, completing a 3 level bearish move. That move was quite fast as it completed in just half a week.

Following the completion of the bearish move, it then makes a bullish movement that took back the bearish 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 bullish 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 bullish upward move. In addition, it is quite a big range between the low and the high of bullish level 1, so being cautious and wait for a good entry to long might be the better option now.

If my analysis helped you in any way, I hope you can like and follow me on Tradingview! =)
Very good chart!
Reply
Thanks.
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out