USDJPY Short Term Counter Trend = Buying Opportunity
Hi Everyone
I am new to Forex as well as on TradingView Forum but today I want to share my view on the Daily, 4H and 1H TF charts for the community.
From the Daily and 4H charts of USDJPY, we may see that the Major Long term trend in USDJPY is Bearish. However, it has entered a short term correction phase,so we can exploit it with tight money management rules.
On the 1Hour chart, the price is trending within a channel and also it is above the Kumo Cloud. We can also see a Cloud Twist on 1H chart which is signaling a Bullish Future Cloud.
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Currently, it is trading around 38.2% of Fib ratio and we can expect further upside upto next Fib ratio which is 5%.
1H Chart
www.tradingview.com/chart/TqTAOvJb/
4H Chart
www.tradingview.com/chart/TqTAOvJb/
Daily Chart
www.tradingview.com/chart/TqTAOvJb/
I would appreciate to listen your view and comments on the above analysis.
I am new to Forex as well as on TradingView Forum but today I want to share my view on the Daily, 4H and 1H TF charts for the community.
From the Daily and 4H charts of USDJPY, we may see that the Major Long term trend in USDJPY is Bearish. However, it has entered a short term correction phase,so we can exploit it with tight money management rules.
On the 1Hour chart, the price is trending within a channel and also it is above the Kumo Cloud. We can also see a Cloud Twist on 1H chart which is signaling a Bullish Future Cloud.
.
Currently, it is trading around 38.2% of Fib ratio and we can expect further upside upto next Fib ratio which is 5%.
1H Chart
www.tradingview.com/chart/TqTAOvJb/
4H Chart
www.tradingview.com/chart/TqTAOvJb/
Daily Chart
www.tradingview.com/chart/TqTAOvJb/
I would appreciate to listen your view and comments on the above analysis.