USDJPY - Watching moves
As the pair moved from 155 to the highs, we have seen it followed bookish definition of Upward Trend i.e Higher highs and higher lows.
The last low formed is at 160.30 and therefore a level to be watched. If the level is broken marked by red horizontal line, we will see initial signs of trend reversal on smaller time frames.
Important Note:
Also we are approaching Half yearly closing, quarterly,monthly and weekly closing today. Such days are relatively of high volatility as market sets a direction for next quarters, months and weeks. Therefore today's closing and candlestick formation on daily and weekly to be noted seriously which will give us a hint regarding future moves.
Good Luck
The last low formed is at 160.30 and therefore a level to be watched. If the level is broken marked by red horizontal line, we will see initial signs of trend reversal on smaller time frames.
Important Note:
Also we are approaching Half yearly closing, quarterly,monthly and weekly closing today. Such days are relatively of high volatility as market sets a direction for next quarters, months and weeks. Therefore today's closing and candlestick formation on daily and weekly to be noted seriously which will give us a hint regarding future moves.
Good Luck
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