Now let me begin USDJPY Chart Analysis for December 2nd.
This is GBPUSD analysis for last Friday.
I’ve deleted unnecessary things.
As the price goes down below orange trend line, it followed route B. Route B was short position strategy.
After 35.2 point fell, the price showed a rise at the short position entry point.
From then, it directly fell from the above resistance line. Based on 30M chart, it successively went up and down. Then ended up with drifting sideways.
Today I brought USDJPY 30M chart.
Currently, USDJPY shows an uptrend signal based on the monthly chart.
This means it might show mid and long term uptrend. Furthermore, USDJPY tends to have a long trend. (Please check EURJPY which shows the similar path)
Above all, the trend seems to sustain uptrend.
So I brought long position strategy only at the rebound entry point during this uptrend.
(Today the bearish movement seems strong, however, after this adjustment, the uptrend might continue at the dawn(Korea time). So please wait with patience, then you will see an appropriate entry point.)
I will summarize the essential parts of the strategy,
1. Please refer to route A and B / with long position entry point and price.
2. Along with route A, please check if the price goes down below the entry point. (If it does, please refer to route B)
3. In case of route B, check the final long position entry point / And please confirm that the price does not go below parallel supporting line. (If it does with an additional candle, close your position and close for the day)
This is it for today.
Moreover, please check EURJPY chart and hope you make profits today.