USDJPY, start of bull for week 1, 2019
USDJPY has made a very predictable and good price movement. Anyone who has shorted it since week 50, would have ended with very good profit! I personally shorted but did not hold it all the way as I mainly day trade, so I got a couple of drop while USDJPY was on its way down.
So what can we expect for 2019, week 1? From my analysis, the bear movement of USDJPY should have ended, and a new bull trend on 1H should be coming up. I would expect perhaps week 1 or week 2 of 2019 to make bullish movement, to perhaps finish off the 3 bullish level, and they can continue on to bear and back to bull. Some traders have asked me how long can the trend last?
My answer: as long as it last. Even though counting the zones and levels have been fairly accurate to give us an overview of the price movement, this type of analysis does not provide an estimate of how many pips it will go. It is based on price movement and price patterns. Trying to estimate the extent of pips movement is not a strength of my trend analysis. However, from the price movements, we can usually infer how strong the current trend is. For USDJPPY, the bear trend that was showing itself in the H1 chart is quite strong, giving very little space for range movement in the respective zones, it went straight down with no hesitation. so it might take a while for the bull trend to commence because it takes time for traders to accept or to change their positions from bear to bull. That being said, I am in the view that week 1 of 2019 will bring the prices up, at least break up to a bullish level 2 trend.
Keep an open mind and be flexible if there is a need to change your positions. That will keep us profitable for the many years to come.
If you have any thoughts on USDJPY's movement for the coming weeks, please share them below, I look forward to learning and staying profitable together. Please help me like this analysis, and follow me for my weekly updates!
So what can we expect for 2019, week 1? From my analysis, the bear movement of USDJPY should have ended, and a new bull trend on 1H should be coming up. I would expect perhaps week 1 or week 2 of 2019 to make bullish movement, to perhaps finish off the 3 bullish level, and they can continue on to bear and back to bull. Some traders have asked me how long can the trend last?
My answer: as long as it last. Even though counting the zones and levels have been fairly accurate to give us an overview of the price movement, this type of analysis does not provide an estimate of how many pips it will go. It is based on price movement and price patterns. Trying to estimate the extent of pips movement is not a strength of my trend analysis. However, from the price movements, we can usually infer how strong the current trend is. For USDJPPY, the bear trend that was showing itself in the H1 chart is quite strong, giving very little space for range movement in the respective zones, it went straight down with no hesitation. so it might take a while for the bull trend to commence because it takes time for traders to accept or to change their positions from bear to bull. That being said, I am in the view that week 1 of 2019 will bring the prices up, at least break up to a bullish level 2 trend.
Keep an open mind and be flexible if there is a need to change your positions. That will keep us profitable for the many years to come.
If you have any thoughts on USDJPY's movement for the coming weeks, please share them below, I look forward to learning and staying profitable together. Please help me like this analysis, and follow me for my weekly updates!
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