USDJPY we are bullish, on the weekly market has broke above the down trendline, on the daily market has also broke above daily resistance with a strong bullish impulse, followed by a nice correction to the 0.382 fibonacci, also forming a nice inverted head and shoulders. We are now expecting the continuation to the upside so market forms a new higher high from a daily perspective. On the 4hr everything is still bearish we are waiting for a break above this counter trendline and a new higher high to form then we can enter a long on the retest of previous resistance which will then be turned support.
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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.