USDJPY - possible short trade for the next few days
The Dxy has been flying high and consequently the currencies vs dollar have been weakening. see a possible drop / pullback to around 94.5 before resuming the uptrend. Assume then that EURUSD will go up in the interim.
USDJPY has shown an impulsive uptrend from 110.900 to 115.500 over 2 months. My assumption is this will need a steep pullback in order to continue long.
ETH just bounced from the daily uptrend / support level, this possibly indicates it might continue its uptrend. However for confirmation it needs to retest the 4 hr support and then go up.
The daily trend line / 4 hr trendline is broken to the downside. can expect a pullback to 4 hr support / trendline and then go short from there. Currently looking at a small buy to the support
Possible AUDUSD short trade basis basic trend following
Basic trend analysis leads me to think GBPJPY should continue the downtrend