USDJPY Short term sells, long term buys
Confluences
- Higher timeframes such as the weekly we can see that market structure has shifted. Shown by the strong weekly bullish engulfing candle
- On the daily looks like we have an inverse head and shoulders and have now broken through the neckline. Similar to other USD pairs like USDCHF
- Bullish impulses followed by bearish corrections
- Slow down in momentum on the daily timeframe so we should see the pullback occur
- Higher timeframes such as the weekly we can see that market structure has shifted. Shown by the strong weekly bullish engulfing candle
- On the daily looks like we have an inverse head and shoulders and have now broken through the neckline. Similar to other USD pairs like USDCHF
- Bullish impulses followed by bearish corrections
- Slow down in momentum on the daily timeframe so we should see the pullback occur
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