USDJPY, week 6 proven, week 7's expectations?
USDJPY moved upward slightly in week 6, which was enough to confirm that bear would be staying out in week 6. It then spend the rest of week 6 staying in range mode, consolidating and getting contracts. Any traders who wants to get the pair to move either upwards or downwards would be stuck with losses.
The analysis in week 6 painted an overall bearish view, but I got no confidence in that, especially after the close of week 5's candle. So for week 6, I had no trades in USDJPY, stayed out of the consolidation and make no losses from this pair.
The analysis for week 7 changed from short to long because of the upward move that happened in week 6. However, to remain cautious, I have low confidence and comfort in this pair. I will continue to monitor this pair before deciding any entry.
If you have any thoughts on USDJPYs movement for the coming weeks, please share them below, I look forward to learning and staying profitable together. Please help me like this analysis, and follow me for my weekly updates!
The analysis in week 6 painted an overall bearish view, but I got no confidence in that, especially after the close of week 5's candle. So for week 6, I had no trades in USDJPY, stayed out of the consolidation and make no losses from this pair.
The analysis for week 7 changed from short to long because of the upward move that happened in week 6. However, to remain cautious, I have low confidence and comfort in this pair. I will continue to monitor this pair before deciding any entry.
If you have any thoughts on USDJPYs movement for the coming weeks, please share them below, I look forward to learning and staying profitable together. Please help me like this analysis, and follow me for my weekly updates!
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