Short term short Long term long continues for USDJPY
This trade analysis is part of my diary. Please let me know if it was helful but also your suggestion for improvements
Price action has been just fantastic. I have predicted retracement on the way up and were buying retracements. Now the price is approaching 21 EMA on daily chart.
This is also a resistance zone based on the price action and 113 Psych level that is generally speaking important zone for USDJPY.
Should the price broke the 21 EMA on the 1H chart and produce LL and LH I would be looking to sell short term until price retraces to 318 Fib retracement zone. 1H stoch is ready to start retracement cycle while on daily chart stoch is still up. This could be however as price is in the up trend.
Should the price retrace to the buy zone around 112. this would be a start of the new bull move
Price action has been just fantastic. I have predicted retracement on the way up and were buying retracements. Now the price is approaching 21 EMA on daily chart.
This is also a resistance zone based on the price action and 113 Psych level that is generally speaking important zone for USDJPY.
Should the price broke the 21 EMA on the 1H chart and produce LL and LH I would be looking to sell short term until price retraces to 318 Fib retracement zone. 1H stoch is ready to start retracement cycle while on daily chart stoch is still up. This could be however as price is in the up trend.
Should the price retrace to the buy zone around 112. this would be a start of the new bull move
