USDJPY - Great Pullback For Further Sells?
Hi Traders. In the recent few analysis on USDJPY and some other JPY pairs, I've been talking about several selling opportunities.
Yesterday, USDJPY and most JPY pairs found strong buying pressure, rallied from 130.50 to 133.90 for over 300+ pips.
When scenario like this happen, there are two perspectives you can view this from
1. Buyers taking over, price is now turning back into a short-term uptrend OR
2. This deep pullback presents great opportunity to further sell
Personally, I will still be looking for short-term sells mainly because I respect the short-term market structure, technically price is still forming lower highs & lows on the 1h & 4h.
134 - 134.60 could be great areas to sell, let's observe further.
If you enjoy the content, make sure you follow my profile and click the like button.
Take care and trade safe.
All the content I've posted are for educational purposes, please perform your own research and only take it as a reference.
Yesterday, USDJPY and most JPY pairs found strong buying pressure, rallied from 130.50 to 133.90 for over 300+ pips.
When scenario like this happen, there are two perspectives you can view this from
1. Buyers taking over, price is now turning back into a short-term uptrend OR
2. This deep pullback presents great opportunity to further sell
Personally, I will still be looking for short-term sells mainly because I respect the short-term market structure, technically price is still forming lower highs & lows on the 1h & 4h.
134 - 134.60 could be great areas to sell, let's observe further.
If you enjoy the content, make sure you follow my profile and click the like button.
Take care and trade safe.
All the content I've posted are for educational purposes, please perform your own research and only take it as a reference.
