USD/JPY- 4 Hour Overview
-Hello everybody!
-On a 4-hour chart, we can see that the price was moving in a bearish direction and recently the price tested and rejected support area with few bullish candles.
-We can see that the support area is pretty strong because we had multiple rejections in the past so I consider that zone as a pretty solid one.
-We can see that the price is in an oversold area so we may expect that the buyers are going to step into the market.
-Right now on a currency strength meter, USD is stronger on a 4-hour base but a little bit weaker on the 1-hour base.
-If USD remains stronger than JPY we should have nice bullish movement.
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial
advice.
-On a 4-hour chart, we can see that the price was moving in a bearish direction and recently the price tested and rejected support area with few bullish candles.
-We can see that the support area is pretty strong because we had multiple rejections in the past so I consider that zone as a pretty solid one.
-We can see that the price is in an oversold area so we may expect that the buyers are going to step into the market.
-Right now on a currency strength meter, USD is stronger on a 4-hour base but a little bit weaker on the 1-hour base.
-If USD remains stronger than JPY we should have nice bullish movement.
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial
advice.
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.