SELL USDJPY On Clean Break & Close Of Bearish Flag ??
Today I will be looking to SELL the USDJPY on a clean break of the bearish flag that is forming and will be targeting the previous HIGH in the current trend that was taken out last week this should act as a nice support allow there could be a deeper correction down towards the Daily DEMAND/BUY zone marked on the chart above.
I will want to see a clean break and close below the trend line that I've marked on the chart we do have the US CPI today which may or not help in this postion a a close above yesterday's HIGH then we will likely see a move up towards last weeks HIGH will see.
I suspect this pair will correct this week and early next week leading up to the Central bank meetings in Japan and the US also we have a lot of news in the US this week as wwe know this pair is very fundamentallly driven at present but is extremely overbought on many of the major timeframes so a correction on the weekly or monthly charts is well over due as it's been moving higher for nearly 24 months straight.
I will want to see a clean break and close below the trend line that I've marked on the chart we do have the US CPI today which may or not help in this postion a a close above yesterday's HIGH then we will likely see a move up towards last weeks HIGH will see.
I suspect this pair will correct this week and early next week leading up to the Central bank meetings in Japan and the US also we have a lot of news in the US this week as wwe know this pair is very fundamentallly driven at present but is extremely overbought on many of the major timeframes so a correction on the weekly or monthly charts is well over due as it's been moving higher for nearly 24 months straight.
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Join Telegram group -t.me/+T7V_JSiKKsliMTJl
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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.