ShinForex1
Long

USD/JPY COT(Commitment of trader) data release for strong JPY

OANDA:USDJPY   U.S. Dollar / Japanese Yen
top down analysis

Daily timeframe

we see price above the ema and price retesting the 107.300 level. indicating a continuation to the upside.

H4 timeframe

price retraced to 61.8% fib level and perfectly bounced at the support level 107.300 to collect liquidity.also EMA are pointing sideways indicating consolidation region but price is now above the ema indicating potential bull run

H1 timeframe
there is EMA crossover to the upside indicating a strong potential for usd/jpy to continue upside after bounce in the support zone . we also broke structure in lower timeframe indicating we shall continue upside we could potentially see price retrace all the way back to 107.900 and potentially breaking the upside

Comments

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