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DAILY FOREX IDEAS

USDJPY Trade Idea

Trading patterns usually repeat after a period of time.
Check this daily chart of USDJPY and you see what I mean.

In order a new swing or trend to begin , USDJPY needs to prepare itself for a while.
Every time it’s about to drop, it moves four waves sideways and then drops down on its fifth wave WITH RSI DIV CLEARLY. Same story when it rises.

On the blue channel, I believe that USDJPY will to repeat the same patter now. And if so it should rise up back to the red resistance zone which we presume as a valid resistance zone now, which would be a nice sell opportunity.

This Post Has One Comment

  1. great put up, very informative. I wonder why the other
    experts of this sector don’t realize this. You should proceed your writing.
    I am confident, you’ve a great readers’ base already!

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