privatedvlper

privatedvlper

USDJPY - The market is bullish on the long term, but there is a possible minor pull back/reversal being signaled.

privatedvlper

After the recent bullish move early this year, price has been consolidating/distribution on the slower timeframes. The market is clearly waiting for a significant item of fundamental news before we see a price waterfall.

privatedvlper

On the H1 TF price is retesting the broken support.Time to sell

privatedvlper

The dollar index has been buying for the last few months and now its at a critical psycological level on the monthly TF.Expect consilidation at this level for the next few weeks.The consolidation has already started on H4.

privatedvlper

The DXY is at a critical level.On the faster timeframes,consolidation has already begun.If the DXY is to reverse,then it should consolidate at this level for the next few weeks so as to absorb the recent buying pressure.However,keep in mind that there is more room for growth as you can see on the monthly chart.There is an equal chance of a reversal or breakout.