USD/JPY Discussion

156.30 wl be hit in NY session, 4hr base forming, its fry-day, bound to go up… also 65% traders are short… all the more logic to go long

Whether or not Uj can decrease further is the London session on January 21.

i think uj goes up to 157.15

UJ up-down decision in london session january 21

Slight channel downtrend, so going long tends to reach channel midpoint line, rather than top of channel. I said TENDS to.


200EMA shows upward curve, so maybe continuation upward past midpoint.

By the way. The crossing on my chart of the white line going above the lower channel line is what I consider a perfect entry by use of a pending Buy order.

As you can see, I am not in this trade as I have too much other trading stuff going on. I'm missing out on this one.

USDX: My view

USDJPY price action on the daily time frame turned sideways at the 156.250 intra-day horizontal resistance towards the end of last week. As the preceding technical impulse is bearish, we may still see a southward retest of an intra-day area of value before a northward momentum.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)

JUST FOLLOW THE RULES.