- October 31, 2020
- Posted by: virtualxstore
- Category: trading
1. From the Monthly perspective, overall trend is but the price rejected from the major which keep rejecting from the same area according to the historical price , so we might see a minor pressure before it continue move to the downside.
3. From the Daily perspective, price created a fake break out to the downside, and closed back above the , intend to create an equal high; if it will created an equal high, we can expect a retest again to the for the creation of the IHNS pattern.
From the fundamental view:
2. In today new report, they don’t have any action in the JPY, which means no proper adding long and short at the moment, but huge closed on the short positions on the JPY, which means they are not interested in selling JPY, so we can see that they are quite on JPY even no proper adding the long position on JPY yet.
How to approach USDJPY?
1. As mentioned on TA part, waiting for the price create an equal high with a retest again on the Daily perspective for the creation of the IHNS pattern.
2. If the IHNS pattern will be formed, then go to the lower timeframe looking for the potential long opportunity if your rules of the strategy are fulfilled.
The result might not follow my analysis, this analysis is based on the TA & FA perspectives.
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