USDJPY - 4hr Timeframe - Update on Buy Opportunities
Following our long term and extensively updated daily overview on this pair (tradingview.com/chart/USDJPY/yitidhVK-USDJPY-Overview-on-Daily-Timeframe/), we have had to revise our forecast numerous times, unfortunately, as we have to admit we didn't expect the pair to break the previous daily low, which we believed was the beginning of the impulse. Well, that proved not to be the case, however this does not change at all our long term analysis on the 
USDJPY pair, and we are expecting a big movement to the upside, which we believe will impulsively take the pair all the way up to the 122-124 area.
A trade not to be missed, especially if you can get into it from the very bottom. In terms of where the pair might find this bottom, we believe that in the corrective structure we are currently seeing to the downside, it might not need to replicate the intensity of the previous downward impulse price-wise, hence it might stop and reverse sooner. For this reason, price action need to be monitored accurately on this pair, if you want to get the perfect buy setup. Don't miss this trade.
From this moment on therefore, we will be looking for buy setups, on this pair: watch out for ending diagonal formations and other price action patterns for an entry point on their break. For a more conservative approach, wait for a first impulse to the upside, wait for a small correction of said impulse on the 60min timeframe, and buy the break of said correction with a stop loss beneath it.
If you feel that our analyses and views may be a useful complement to your trading strategies and in order to be notified in real time with our updates on the lower timeframes, please remember to click on the Follow button.
Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.
Thank you for viewing.
USDJPY pair, and we are expecting a big movement to the upside, which we believe will impulsively take the pair all the way up to the 122-124 area. A trade not to be missed, especially if you can get into it from the very bottom. In terms of where the pair might find this bottom, we believe that in the corrective structure we are currently seeing to the downside, it might not need to replicate the intensity of the previous downward impulse price-wise, hence it might stop and reverse sooner. For this reason, price action need to be monitored accurately on this pair, if you want to get the perfect buy setup. Don't miss this trade.
From this moment on therefore, we will be looking for buy setups, on this pair: watch out for ending diagonal formations and other price action patterns for an entry point on their break. For a more conservative approach, wait for a first impulse to the upside, wait for a small correction of said impulse on the 60min timeframe, and buy the break of said correction with a stop loss beneath it.
If you feel that our analyses and views may be a useful complement to your trading strategies and in order to be notified in real time with our updates on the lower timeframes, please remember to click on the Follow button.
Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.
Thank you for viewing.
Note
For all those who were monitoring the pair and managed to enter the buys at the bottom on the break of the minor trend, congratulations! For those who aren't in the trade as yet, watch for flags on the 60min chart or smaller corrective structures and buy the break of said structures, with a stop loss below them.
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.
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.