Update on JPY Forecast
#OPINIONLEADER# #AUD/JPY# #CAD/JPY# #CHF/JPY# #EUR/JPY# #GBP/JPY# #NZD/JPY# #USD/JPY# #trading#
Here is the update on the weekly analysis that I did on JPY last week. You can read the analysis here .
Price moved as anticipated. Although some pairs went higher before turning around, and some turned around at the nearest supply. That is why I only picked two of them, EURJPY and GBPJPY. I knew there will be some variation to the setup as all the pairs can't pick supply at the same place.
Here is the screenshot of each JPY pairs after the sell.
As you can see above, CADJPY is turning into a big range on the 4hour. You can take advantage of that as a trader. CHFJPY is getting ready for a big sell as the sellers have breached the demand area on the 4hour. The sell on CHFJPY is turning into a daily trade. GBPJPY and EURJPY are both creating a lower high on the 4hour chart. AUDJPY and NZDJPY are also creating a lower high but it might turn into a mini range on the 4hour before the break happen. USDJPY is trending as price is too far down. I am anticipating a final push down before a reversal as the USD is gaining strength.
Kindly let me know what you think about JPY this week.
Wishing you all a PIPFUL week :)
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