Hi,
If we are looking on a bigger timeframe such as daily and monthly chart, USDJPY is on a downtrend channel. Meanwhile, on 4H Chart, there is a downtrend line is being tested. A pull back on the line might signal a further north for the pair.
Earlier today, we saw the drop on US Durable Goods Order that could impact to the USD. If you read my previous idea on EURUSD, you will also read on USD is in the mode of waiting for new catalyst to get strengthening. Therefore, on this one, I am going on long for the JPY.
Happy Trading!
If we are looking on a bigger timeframe such as daily and monthly chart, USDJPY is on a downtrend channel. Meanwhile, on 4H Chart, there is a downtrend line is being tested. A pull back on the line might signal a further north for the pair.
Earlier today, we saw the drop on US Durable Goods Order that could impact to the USD. If you read my previous idea on EURUSD, you will also read on USD is in the mode of waiting for new catalyst to get strengthening. Therefore, on this one, I am going on long for the JPY.
Happy Trading!
Order cancelled
Hi,The unconvincing BoJ Monetary Policy Statement and outlook would not look good for JPY.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.