USD JPY MAY GO LONG. (23rd November 2020).
Disclaimer:- Educational Analysis says USDJPY may go long According to my technicals.
This is not an entry signal. I have no concern with your profit and loss from this analysis.
Why Long?
Because the 4 hr trendline(backline) is been respected twice and may test third time before going long or 15 min Consolidation of (Red Line) will break and go long. There are buyers waiting at that buy stop order value which may skyrocket this pair.
For Additional Confirmation on this trade, You can wait for consolidation to break and wait for price action pattern may be morning star or two green candles or at least bullish engulfing for the price to go long.
This is not an entry signal. I have no concern with your profit and loss from this analysis.
Why Long?
Because the 4 hr trendline(backline) is been respected twice and may test third time before going long or 15 min Consolidation of (Red Line) will break and go long. There are buyers waiting at that buy stop order value which may skyrocket this pair.
For Additional Confirmation on this trade, You can wait for consolidation to break and wait for price action pattern may be morning star or two green candles or at least bullish engulfing for the price to go long.
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