UnknownUnicorn981629

USDJPY_Institutional Perspective_Monthly/Daily_Fibs,EMAS,Levels!

Long
OANDA:USDJPY   U.S. Dollar / Japanese Yen
TRADERS! USDJPY is UPTRENDING!
Black fibonacci is STRONG (monthly impulse trend.) Blue fibonacci holds heavy weight also (weekly corrective trend.) Thick red EMA is 50 period. This blue EMA is 14 period.

Notice the buy signal on the monthly that still has room to run. Then notice the black fib on the weekly and how well its been respected. I bet yen keeps charging higher, but not before clearing out long side traders on lower timeframes. Daily chart shows room for healthy pullbacks to 110-109.000 levels. To be completely honest it would not be unusual to see this market retrace all the way to 107.900! In the event of freak market moving events I'd suggest you be ready to pull the trigger at these levels.

Don't be fooled however, we may not get lucky enough to get counter trend retracements. This trend is strong and you are SILLY to be swing short this currency. In order for yen to charge higher, EURUSD is gonna need to continue down, at least stay sideways at these levels.

The Japanese Yen has been a longtime favorite of mine and is responsible for personally building my trading accounts alongside the E-Mini S&P 500 . Also note fibonacci sequences and candlestick pattern development originated in Japan. This trading style built the wealthiest family of Japanese royalty from rice trading. This family held Japanese dynasty for over 300 years. To me, this market responds better to these levels than any other market in existence. READ THIS! https://en.wikipedia.org/wiki/Homma_Mune...

If you found this analysis useful or thoughtful Likes/Comments/Follows are much appreciated! Disclaimer: Your data may be different. Material is educational only. Trade at your own risk!
Comment: Look where we have pulled back too..... I will be diligently looking for long side opportunities next week depending on how DXY acts. Be prepared and keep your mind straight. NO SHORTS!