Mirandole
Long

USDJPY : Close to a breakout confirmation

FX:USDJPY   U.S. Dollar/Japanese Yen
Dear workmates !

Last week, we saw a nice correction of the strong dollar uptrend. This correction may be over for now. USD will probably trend up this week particularly against Yen.


DXY             1D Timeframe View :

snapshot

We have a strong MACD divergence on 1D timeframe of DXY             giving a nice long signal on US Dollar             . A falling wedge is forming indicating a nice long term perspective. MA confluence could reverse up and give a potential strong move up. These three elements make me confident that the dollar may trend up this week.

USDJPY             1D Timeframe View :

snapshot

We are close to a breakout of a descending triangle on USDJPY             . This could lead to a nice uptrend to 122 level then 124. MACD is close to cross the neutral line giving volatility potential.

A break of 120.28 level is a good signal to enter long.


Best Regards,
Serge
Mirandole
2 years ago
Update :

Trade hit SL level. The Dollar seems to be weakest than expected. My first Take profit level was a bit too far. I may be a bit to eager for this one.
Don't forget, the key is to learn from every mistakes you make in trading.

Best Regards,
Serge
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