USDJPY LOSING STEAM? - 10/05/2021HELLO TRADERS,
Quick Overview of USDJPY>
After a Bullish run to the 112 handle last week,
we are expecting a potential bearish correction to the downside to complete a Bull flag formation.
KEY RESISTANCE 111.400/600 AREA
OANDA:USDJPY
POTENTIAL BULL FLAG FORMATION UNDERWAY
Always trade only with what you are willing to lose.
The Trading Regime.
Yenpairs
EJ outcomes in the coming few weeksThis pair is just as crucial to watch out for just as GJ and UJ, as they all will majorly depend on how Japanese yen move in the coming days. As we all know whats going on with the Evergrande situation, if they say anything about defaulting on their current debt, investors will look toward putting their money in jpy as it is considered a save haven during situations like these.
USDJPY continues unfolding triangle (part 2)USDJPY (long-term)
$ vs ¥
The market has been moving sideways since a bullish impulse in wave ((A)) finished.
It seems like a wave ((B)) is taking the form of a triangle .
So wave C of (D) is finished. If correct, the market should continue to decrease towards the pattern’s lower side to a wave (E) , in the coming months.
USDJPY continues unfolding triangleUSDJPY (long-term)
$ vs ¥
The market has been moving sideways since a bullish impulse in wave ((A)) finished.
It seems like a wave ((B)) is taking the form of a triangle. So wave C of (D) is likely underway. If correct, the market should continue to increase towards the pattern’s higher side in the coming weeks.