U.S. Dollar / Japanese YenUpdated USDJPY 2 ways thinking.
Short term form supply zone, Sell! Long term, Buy.
Weekly candle closed extremely bearish.
It is not a smart move to enter any positions right now until Daily candle closed with a bullish reversal candle. A pin bar at 110.900 area would be ideal. I am inclined to do buy because of its Daily uptrend structure.
Current sell orders are from a monthly zones. It requires a couple of days to diminish the orders before the trend starts moving in upward movement again.
For now, I would like to see a decrease in momentum and a reversal candle signal at 110.900 to position some buy orders.
Weekly candle closed extremely bearish.
It is not a smart move to enter any positions right now until Daily candle closed with a bullish reversal candle. A pin bar at 110.900 area would be ideal. I am inclined to do buy because of its Daily uptrend structure.
Current sell orders are from a monthly zones. It requires a couple of days to diminish the orders before the trend starts moving in upward movement again.
For now, I would like to see a decrease in momentum and a reversal candle signal at 110.900 to position some buy orders.
Note
Note
Weekly support. Entry at Fibo 0.618.
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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.