USDJPY - Demand Ready for Lift-Off (Technical Analysis)As it stands we're currently holding short positions on USDJPY since last week.
The current short term still suggests that this pair is bearish -
We have seen lower lows and institutional manipulation to the upside as well, so we will continue holding our shorts until we see a reversal on the lower time frames.
Previous Analysis:
We traded down to the Daily demand levels (which price has now reached).
The current price cycle indicates it's still distributing but now is the time to watch for potential bullish reversals - more-so when we combine this with our DXY analysis as well as current Geopolitical moves, we could definitely see a bullish surge in the next few days.
Trading Considerations:
All signs point to a pending bullish reversal, don't engage without considering the LTF trend, we would ideally like to see it reverse first.
Trade what you see, not what you think you might.
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Trading involves substantial risk and may not be suitable for all investors. Conduct your own research and consult with a financial advisor before making any investment decisions.
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