aksmyrak2

Busy chart describing what I see USD/JPY doing

Short
FX:USDJPY   U.S. Dollar / Japanese Yen
Price previously just hit a weekly Premium array which was a bearish orderblock around 110.400 big figure. The algorithm likes to return to easy even numbers. Since we moved from a weekly, I will look to be bearish on the daily and 4HR and look for PD arrays in those timeframes to see price go to. On the daily, we saw that price was very bullish today as it went to a daily orderblock. This further proves to look for sells. We can look for price to return to any of the discount arrays but the earliest one is around 109.900 which is a bullish orderblock as well as an area where it was sensitive for price. This is the first area we will see price want to go to and depending on what happens after, it can go to lower discount arrays. The daily equilibrium price is right above 109.900 so price will want to return to equilibrium and go to another discount or premium from there. Price also reacted to a 4HR bearish orderblock and another area that was sensitive. After we see what happens, this Sunday-Monday, we can decide if price will want to go lower and reverse or have a larger retracement and continue going higher. I have trade ideas for both that I will share beginning of this week. Price also is poised to go lower based of the 9 and 18 length moving average. My view of this market is described as a story which is what you should look for when trying to trade.
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