USDJPY consolidating for a major trend ahead?
USDJPY has been consolidating between the green and red trend lines for quite some time. The market is preparing for a major trend.
Here are the potential scenarios.
A break and close below the red trendline will spark a strong downtrend.
On the other hand, a break and close above the green trendline means USDJPY will resume it's strong uptrend.
As a trader, we have to plan our trade on a few potential scenarios and then executes it when the market shows its hand.
Here are the potential scenarios.
A break and close below the red trendline will spark a strong downtrend.
On the other hand, a break and close above the green trendline means USDJPY will resume it's strong uptrend.
As a trader, we have to plan our trade on a few potential scenarios and then executes it when the market shows its hand.