USDJPY Weekly Technical Outlook
USDJPY market operation on the weekly time frame is in a bullish mode. Last week, the market operation printed a bullish candlestick that broke above the area of consolidation that has been in place for three weeks.
USDJPY price action on the daily time frame is bullish. As it is presently near the 145.600/146.600 supply area (red), we may see bulls incentivized for further northward liquidity engineering, which may even target a higher-level supply area before a bearish correction. The dominant trend is bullish.
The immediate technical impulse of USDJPY on the H4 time frame is bullish. Nevertheless, we cannot rule out a southward liquidity sweep to shake out weak hands before a northward continuation.
I may be wrong. Trade safe and prosper.
KP
USDJPY market operation on the weekly time frame is in a bullish mode. Last week, the market operation printed a bullish candlestick that broke above the area of consolidation that has been in place for three weeks.
USDJPY price action on the daily time frame is bullish. As it is presently near the 145.600/146.600 supply area (red), we may see bulls incentivized for further northward liquidity engineering, which may even target a higher-level supply area before a bearish correction. The dominant trend is bullish.
The immediate technical impulse of USDJPY on the H4 time frame is bullish. Nevertheless, we cannot rule out a southward liquidity sweep to shake out weak hands before a northward continuation.
I may be wrong. Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money
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