We can see a late sell signal to occur with +D above - D. Positive histogram completed a uniform figure and did not start a significant negative uniform. Both 20 and 50 EMA are heading upward while 200 EMA is preparing for a cross. Expect a bull movement at market open until 12 am US time. We will either see a significant pullback until 3-4 am before the move up or a trend continuation.
Given JPY’s strength I expect the pullback to happen. 3am is a strong pullback/consolidation time.
Check out my previous timeframe trades for a better understanding.
Last weeks USDJPY market open opened with a late buy signal indicating a sell. At 12am the trend remained strong indicating the trend continuation until at least 3am.
AGAIN MY TRADE TIMES ARE BASED OFF US EASTERN
Given JPY’s strength I expect the pullback to happen. 3am is a strong pullback/consolidation time.
Check out my previous timeframe trades for a better understanding.
Last weeks USDJPY market open opened with a late buy signal indicating a sell. At 12am the trend remained strong indicating the trend continuation until at least 3am.
AGAIN MY TRADE TIMES ARE BASED OFF US EASTERN
Price opened below previous market open and closed out bearish. However a hidden divergence occurred on my MACD indicator following the first hour candle close out. I have studied hidden divergences and immediately entered my buy entry.
I will follow this trend until the 12 am mark and determine a full swing or minor pullback. I expected USD strength to grow throughout the night triggering only minor pullbacks.