A quick movement in USDJPY indicates a new trend starter?
Analysing Forex from The Market side & perspective.
One buyer positions have been stopped out by downtrend and then a quick up movement for about 80 pips. This move could incidate that the downtrend has ended. Last friday in Asia trading session, there is an up movement that is higher than some previous up movements. is it a pullback? this movement also bring a new buyer positions at 107.21. There is no confirmation from the market about a new trend movement so we will assume it as another pullback and The Market will go down continuing the downtrend.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.