USDJPY-SR level still holds on..rise to 90's high still possible
Hello Traders
As my last analyze was not confirmed and that bullish triangle is history, there are still some things to see for LONG trend to continue
The support on 142.900 is still strong and holding the price above.
Long time trend (ORANGE) is also holding on.
There is engulfing candle as possible trigger candle for LONG position from Tokyo session. I know some of you would take it...probably some have entered for LONG here as this is still forming above smoothed MA200.
For this time frame also the economic calendar from the middle of this week could show us more of it's movement. Some critical Data (FED interest rate decision) are planned on Wednesday and (Jobless claims) Thursday which we have to take in account.
Maybe because of waiting for this data the market will be consolidating for a few days more. But there is possibility of uptrend to continue also as USD is still strong.
For now I don't see a reason for USD to go for DOWN trend...but this can change quite significantly after FED data.
I really don't know If I will enter here before the FED data. This can move the market a lot.....possible against you as we don't know what the people in FED will do until Wednesday
Remember of using Stop Loss whatever you're doing on Market
Have a safe trading week
As my last analyze was not confirmed and that bullish triangle is history, there are still some things to see for LONG trend to continue
The support on 142.900 is still strong and holding the price above.
Long time trend (ORANGE) is also holding on.
There is engulfing candle as possible trigger candle for LONG position from Tokyo session. I know some of you would take it...probably some have entered for LONG here as this is still forming above smoothed MA200.
For this time frame also the economic calendar from the middle of this week could show us more of it's movement. Some critical Data (FED interest rate decision) are planned on Wednesday and (Jobless claims) Thursday which we have to take in account.
Maybe because of waiting for this data the market will be consolidating for a few days more. But there is possibility of uptrend to continue also as USD is still strong.
For now I don't see a reason for USD to go for DOWN trend...but this can change quite significantly after FED data.
I really don't know If I will enter here before the FED data. This can move the market a lot.....possible against you as we don't know what the people in FED will do until Wednesday
Remember of using Stop Loss whatever you're doing on Market
Have a safe trading week
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