USD/JPY Movements
Looking at the weekly timeframe, UJ has been bearish for over a month now, but we are starting to see wicks to the downside which indicated the pair is slowing down.
At the minute, this pair is still in a downtrend, so all options are option, but my personal bias is that we will begin to see buyers come into the market next week.
For a valid buy on this pair, I would want to see structure broken on 107.000 which is a previous low point for price. If we break this and show some downside rejection I would look for buy entries.
For the time being I see no set-up, but its defaintely one to watch going into next week
At the minute, this pair is still in a downtrend, so all options are option, but my personal bias is that we will begin to see buyers come into the market next week.
For a valid buy on this pair, I would want to see structure broken on 107.000 which is a previous low point for price. If we break this and show some downside rejection I would look for buy entries.
For the time being I see no set-up, but its defaintely one to watch going into next week
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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.