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.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.