USDJPY Bullish Trading Outlook

OANDA:USDJPY   U.S. Dollar / Japanese Yen

Hi traders:

Here on USDJPY higher time frame perspective, I do see a potential for price to enter a bullish impulsive phrase and pushing the price to the upside.

Price has been in this HTF flag/channel correction for quite sometimes now. And not much has happen after when price begin this descending channel correction.

From price action point of view, we know that consolidation price is always a good sign that price is correcting, and when correction finished we usually going to see the next impulse move to happen.

So, I would be patient here and wait for some LTF development. I want to see price form some continuation and eventually breakout of the descending channel , and look for further bullish price action to look for entry to the upside.

thank you
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I am overall bearish, but I agree there is plenty of room for the upside before it reaches resistance!
+1 Reply
jojofang0901 MountainTraderFX
@MountainTraderFX, Yea I wont consider an entry unless I see strong bullish price action tot breakout follow by continuations. thank you my frd. )
thank you for sharing Jojo, meanwhile, until it breaks that short-term trendline, i will be looking for sell setups
+2 Reply
jojofang0901 TheSignalyst
@TheSignalyst, Certainly possible for price to continue correcting and push down lower. :) thx
Good job
+1 Reply
Nice, keep it up!
+1 Reply
jojofang0901 DACapitalTrading
@DACapitalTrading, will do :) thx
great setup!
+1 Reply
jojofang0901 Yuriy_Bishko
@Yuriy_Bishko, thank you bud :)
Thanks Jojo.
+1 Reply
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