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forexwithfred

USD/JPY - Key Level Reached, Bounce Or Break?

U.S. Dollar / Japanese Yen (FX:USDJPY)  
forexwithfred Updated   
FX:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Chart Patterns Technical Indicators USDJPY usdjpyidea usdjpyshort usdjpybuy Technical Analysis keylevel crossover
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trendanalysis chartpattern indicator usdjpy usdjpyidea usdjpyshort usdjpybuy technicalanalysis keylevel crossover
Hello Traders!,
Hope everyone had a successful week trading, here's my analysis on USD/JPY for the next week we have ahead of us

What Is The Market Telling Us?
  • Consolidation has been occuring for the past 2 trading weeks ranging from support & resistance
  • Bearish fakeout has occured to STOP OUT retail traders from their sells to bring the market to a higher price
  • Bullish crossover has occured
  • Price has reached peak bullish volatility and is now halted by resistance level
When Should We Enter?
  • This scenario can go both ways, if youre LONG look for a clear break & retest of resistance before BUYING
  • If you're SHORT, wait for a bearish candle close or a bearish pattern to occur before SELLING
Trade closed: target reached:
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