USDJPY nicely followed the path I gave yesterday (tradingview.com/chart/USDJPY/p2EDMym7-26062023-USDJPY/) , dip down from PZ to the BZ and came back up. I was short AUDJPY which played out well, but today it seemed that DXY will have a down day.
USDJPY is still in a consolidation in a triangle type formation. But I am looking for a down in USDJPY thus on break of the PZ, expect further downside to 143.06 and 142.90 then 132.60, where we should see a bounce.
USDJPY is still in a consolidation in a triangle type formation. But I am looking for a down in USDJPY thus on break of the PZ, expect further downside to 143.06 and 142.90 then 132.60, where we should see a bounce.
Note
Changed my view. Went long instead. Or at least, there is no strength in JPY. Long AUDJPY etc would work better but anyway yes, that applies to going long other currencies vs USD.
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Join me for free on Patreon (patreon.com/fademeifyoucan) to receive my daily FX and indices trading plan. DM me to join my new group to learn all my trading levels and to trade together.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.