USDJPY Temporary Bearish Retrace, then Bullish
The chart above is pretty self-explanatory, and it ties in with my previous analysis of XAUUSD on the daily chart.
1. For the first few days of this trading week, the US Dollar will be weak and USDJPY will retrace to the 116.00 area, a level of great importance.
2. From there, the pair will bounce up on a strong bullish candle, at which closing I will buy with the targets and stop loss shown above.
I think this is a reasonable assessment, well within my strategy parameters.
1. For the first few days of this trading week, the US Dollar will be weak and USDJPY will retrace to the 116.00 area, a level of great importance.
2. From there, the pair will bounce up on a strong bullish candle, at which closing I will buy with the targets and stop loss shown above.
I think this is a reasonable assessment, well within my strategy parameters.
