USDJPY-Weekly Market Analysis-Jan21,Wk1

Jan 2, 2021

Well, I've told you there's no need to panic for crab pattern, it usually has a retest of previous low before it took off. The structure of this trading setup is also known as a sideway consolidation, although the highs(resistance) and lows(support) are not too far apart(which will affect our income potential), it is still good for meal money.

Well, in the short to medium term, the money is in the buying(long). If you are patient can wait for a retest back to previous low where my blue arrow sits to buy it, and if you are aggressive and like to get involved, you may consider shorting as long as the candle didn't break and close above the yellow channel when the market opens.