USDJPY, will week 3's bulls continue to week 4?
No surprises here on USDJPY's week 3 movement. It has gone up steadily, almost on a predictable basis, which is the kind of trade professional traders are looking for. The name of these kinds of trades might be known as boring, but it is the best, as it gives traders what they are looking for - Profit.
USDJPY successfully broke the previous high in week 3, I am not too sure if how many other traders traded it, but anyone who long at any point of time would be able to extract some form of profit out of it. Our analysis on week 3 was for USDJPY to continue its upward which I am happy it did. However, I am not into USDJPY for week 3 as I am mainly focusing on GBPUSD and USDCHF.
Since USDJPY broke the previous high, my take on it was now for USDJPY to fall instead of continuing rising, even though it looks fantastic to expect the bull trend to continue. Currently, the level count analysis still pointed USDJPY to continue upwards, however, my personal take was to see USDJPY exhaust its bullish trend and resume the downward movement.
So for week 4, USDJPY will continue to be the least possible pair for me to long, I will consider a short position for week 4, depending on the price movement.
Stay flexible and open-minded, I hope you will make an awesome profit for week 4!
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!
USDJPY successfully broke the previous high in week 3, I am not too sure if how many other traders traded it, but anyone who long at any point of time would be able to extract some form of profit out of it. Our analysis on week 3 was for USDJPY to continue its upward which I am happy it did. However, I am not into USDJPY for week 3 as I am mainly focusing on GBPUSD and USDCHF.
Since USDJPY broke the previous high, my take on it was now for USDJPY to fall instead of continuing rising, even though it looks fantastic to expect the bull trend to continue. Currently, the level count analysis still pointed USDJPY to continue upwards, however, my personal take was to see USDJPY exhaust its bullish trend and resume the downward movement.
So for week 4, USDJPY will continue to be the least possible pair for me to long, I will consider a short position for week 4, depending on the price movement.
Stay flexible and open-minded, I hope you will make an awesome profit for week 4!
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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