UPDATE ON USD/JPY TRADE
USD/JPY 1H - I did not get chance to update you all on USD/JPY yesterday but you were all aware of my thoughts and how we wanted to see this market trade us higher whilst price is putting in the correction.
Price did exactly that, last night at about 8pm price came to trade down and into an area of interest for me before reversing and taking us higher creating new highs in the market, with me not being at my computer I couldn't update you all officially on this change in price.
In order to avoid missing an entry this time round I have gone ahead and marked out a new area of Demand for you all that you can look to buy in from, please wait for price to trade into the area and reject well before placing any positions in the market.
It is important that we wait for confirmation that price is ready to take the next leg higher before getting involved in further buy positions. Once we see price trade down we are looking to see price reverse continuing this bullish momentum.
Price did exactly that, last night at about 8pm price came to trade down and into an area of interest for me before reversing and taking us higher creating new highs in the market, with me not being at my computer I couldn't update you all officially on this change in price.
In order to avoid missing an entry this time round I have gone ahead and marked out a new area of Demand for you all that you can look to buy in from, please wait for price to trade into the area and reject well before placing any positions in the market.
It is important that we wait for confirmation that price is ready to take the next leg higher before getting involved in further buy positions. Once we see price trade down we are looking to see price reverse continuing this bullish momentum.
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Related publications
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.