USDJPY is trading in a strong bullish trend on a daily.Ahead, I see a solid horizontal resistance from where the market may initiate a correctional movement.Analyzing a price action on 4H time frame, I noticed that the pair started to slow down. The price is currently trading within a rising channel.To catch the initiation of a correctional movement, wait for a bearish breakout of the support of the channel. 4H candle close below that will confirm the violation. A bearish continuation will be expected then.Alternatively, a bullish breakout of the underlined blue are will be a strong bullish signal. #OPINIONLEADER#
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.