FX:USDJPY   U.S. Dollar / Japanese Yen
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USDJPY             is in a corrective structure , it broke out of the 240 downtrend and looks like it's is making a corrective structure. Buying the breakout looks like a good idea.
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thank you for the update
Thank you very much you are doing a great job
+3 Reply
When will this breakout occur? Like around what time specifically?
+1 Reply
mlbo BjThorpe
what day or what daytime? what are you asking for?
Any information would help.. I'm in central time.. So basically I want to know around what time will this breakout for the buy occur?
mlbo BjThorpe
in my opponion it makes few or no sense to ask for a daytime. there are ways to calculate and carefully "forecast" time for change of trend using for example fibonacci time extentions. but like every technical analysis tool this works better and better the higher the timeframe is. using fibonacci time extentions on daily chart (1 day candles) you may be right in forefasting the trendchange down to +/- 1 day buuuuut you definitly need other price action observations on the days you spot as potential reversal days...

in addition you may wanna read something about london session breakout trading strategies....

your question suggests you know to little about trading. on the other hand the info i gave you above shows that your question is a reasonable question that can be asked ...
How much lower are we expecting the Yen to fall until something picks it back up? It's at a very low position (although not at low as April this year) so it should be a good time to buy (unless it's going to fall even lower).

What can happen that will make it pick back up?
+1 Reply
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