USDJPY Volume Analysis
My reason for LONG.
Since the big drop, prices had been consolidated below 107.500. The trading volume had declined since then except on two occasions.
There is a bullish divergence on the OBV indicator. It can be a good clue that the market is likely going to reverse.
Lastly, if prices were to continue to drop, there should be an increase in trading volume however it is not visible at this moment (except on two occasions).
Since the big drop, prices had been consolidated below 107.500. The trading volume had declined since then except on two occasions.
There is a bullish divergence on the OBV indicator. It can be a good clue that the market is likely going to reverse.
Lastly, if prices were to continue to drop, there should be an increase in trading volume however it is not visible at this moment (except on two occasions).
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.