USDJPY: Mapping levels
USDJPY seems to have launched a very strong uptrend from an intermediate term consolidation.
I think we will see a pullback very soon, which could be a buying opportunity.
Currently to have a balanced distribution curve, we'd need to see a move extend past the low volume resistance, and hit 122.976, which could then act as a potential top and reversal level.
I'm not trading this pair yet, but looking at it for an entry.
It'll be interesting to see if this trend launches into a weekly uptrend or not, which remains entirely possible, but not yet confirmed, nor even hinted at by price action.
Good luck,
Ivan.
I think we will see a pullback very soon, which could be a buying opportunity.
Currently to have a balanced distribution curve, we'd need to see a move extend past the low volume resistance, and hit 122.976, which could then act as a potential top and reversal level.
I'm not trading this pair yet, but looking at it for an entry.
It'll be interesting to see if this trend launches into a weekly uptrend or not, which remains entirely possible, but not yet confirmed, nor even hinted at by price action.
Good luck,
Ivan.
🔒Want to dive deeper? Check out my paid services below🔒
ivanlabrie.substack.com/
ivanlabrie.substack.com/
Related publications
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.