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MountOlympusFx

USDJPY BUY: Weekly, Daily & 4hr Breakdown.

Long
U.S. Dollar / Japanese Yen (FX:USDJPY)  
MountOlympusFx Updated   
FX:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns USDJPY Forex
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USDJPY Weekly:
• After the huge flash crash 2 weeks ago, markets have recovered a bit with still a bit more recovering to do.
• After forming that long wicked candle, last weeks candle closed as a doji above 108.50 psychological level.
• Moving averages crossed bearish however price is recovering so this pair is bullish for me next week.

USDJPY Daily:
• After creating new low at 107.00 support price is retracing at this moment in time.
• Friday closed as a bullish hammer and closed above 108.50 signalling more bullish momentum to come.

USDJPY 4hr:
• Missed initial entry from support because I don’t really trade on Friday. However, I have found a new possible entry.
• Possible entry is a break of 108.50 which has occurred. Now waiting for a possible retest be looking to add buy positions.
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