USDJPY squeezing bulls
#USDJPY:
(1D):
The analysis here is pretty much unchanged, with price being in a overall downtrend with 200 EMA confirmation and a descending triangle still in place. For these reasons, my bias is still bearish
(4H):
Last week we saw the price breaking the nice rising wedge formation, leading us to open a short position. Unfortunately, we saw much consolidation, closing our position at breakeven.
(1H):
If we look for another entry point, we can notice that we are in front of a squeezed price action, with the price hardly trying to break the daily trendline (black) withouth results. A break to the downside is what we are waiting for.
(1D):
The analysis here is pretty much unchanged, with price being in a overall downtrend with 200 EMA confirmation and a descending triangle still in place. For these reasons, my bias is still bearish
(4H):
Last week we saw the price breaking the nice rising wedge formation, leading us to open a short position. Unfortunately, we saw much consolidation, closing our position at breakeven.
(1H):
If we look for another entry point, we can notice that we are in front of a squeezed price action, with the price hardly trying to break the daily trendline (black) withouth results. A break to the downside is what we are waiting for.
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