USDJPY Analysis Long-term view
Updated
The low of 03/01/2019 started the Up-trend with a completed 3 Structural failures to the upside on 24/04/2019 making a higher high of 112.390.
What we have observed is price discounting itself. [Price is a discounting mechanism] An opportunity to buy at a cheaper price level.
So, we have see a completed H&S inverted last week friday and we are looking for buyers to step into the usdjpy from 107.79.
Every sell in this pair above 107.79 is an opportunity for us to buy the usdjpy.
I will be updating this trade as it develops.
What we have observed is price discounting itself. [Price is a discounting mechanism] An opportunity to buy at a cheaper price level.
So, we have see a completed H&S inverted last week friday and we are looking for buyers to step into the usdjpy from 107.79.
Every sell in this pair above 107.79 is an opportunity for us to buy the usdjpy.
I will be updating this trade as it develops.
Trade active
Entry @ 107.92SL@ 107.79
Intraday Targets:
1. 109.38
2. 109.89
Comment
Confirmation of trend resumption to the upside.Comment
Deeper Retracement/Short Resumption:Just a quick update 108.15 is a trap that can take price lower. if price close below this point on the 1hr chart, we will close the long position.
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