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Analysis of #USDJPY
Hello friends.
Possible continuation pattern, triangle, might be providing a chance to get in a buy trade for a possible trend continuation entry
This entry is on the 15M, carefully trading this might be a wild week
let me know in the comment what pair you want to see the analysis for in my next free analysis
Safe trading everyone
Check today analysis below⠀
_____________________________________________________________________________⠀ -Disclaimer: this information is not a recommendation to BUY or SELL. It is to be used for educational purposes only⠀ -Please note this is just a PREDICTION and i have no reason to act on it and neither should you
USDJPY is acting weird I never seen a pair act like this. H4 oversold, D1 over sold H1 oversold, Weekly timeframe is at the highest since 2016 about to hit 70 on the rsi. How the hell has it not dropped.
chunkuya1000
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@Internetfunny will if you look for weekly you see market had been moving inside channel for so long accumulating positions and weekly channel break was the trigger for that move most people look for daily and lower thats way more positions was added by retailer more liquidity and boom explosions
kennypilanski
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Good work
HollyDary
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thanks for the analysis
Stargazer_fx
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great analysis mate
KingJu1ian
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I am learning so I wanted to ask - doesnt highly overbought on 4h and 1D timeframe make You think about at least retracement? Doesnt it look like rising wedge with a potential fall?
Internetfunny
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@KingJu1ian, same thing I was saying. I never seen usdjpy or any pair act like this before. Usdjpy was way overdue for a retracement Idk how the hell it hasn’t dropped yet.
enatural
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@Internetfunny, dont trade what you think, trade what you see. price action is king. as long as the dollar moves up you cant stop the trend.
Internetfunny
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@enatural it would be nice if it wasn’t what I thought, but it’s clear the US dollar is extremely overbought, it’s even on all headlines for news analysis in regards to the US dollar