USDJPY - Weekly Chart Analysis
Price Action: Bullish
Pattern: Asymmetrical triangle + break of all EMA’s
Long-Term Momentum: Bullish
Short-Term: Bearish
Bias: Long
Action: After price tests trend resistance it will most likely bounce. Hopefully it will find support where daily resistance is now. Enter a longer term position here.
Comments: Would like to see bullish momentum continue for next couple of days then correct. I think that this will be healthy for many U.S. pairs as they all have very similar price structures.
Pattern: Asymmetrical triangle + break of all EMA’s
Long-Term Momentum: Bullish
Short-Term: Bearish
Bias: Long
Action: After price tests trend resistance it will most likely bounce. Hopefully it will find support where daily resistance is now. Enter a longer term position here.
Comments: Would like to see bullish momentum continue for next couple of days then correct. I think that this will be healthy for many U.S. pairs as they all have very similar price structures.