USDJPY NEW UPTREND?

16 thg 8, 2020

Hey traders I am currently looking at USDJPY making a slight pullback before making another possible move to the upside. As you can see on the 4hr time frame we have had a big rejection from that 105.000 area and now looking like the bulls have this in an uptrend. For every trend we need to expect pullbacks before price continuing on to new areas, I have marked out 106.000 as its a nice round figure and has shown to be very supportive in the past, a pullback to this level could create another great risk reward and take this pair even higher. We do have some news this week that may influence this and show us some nice volatility within the market. As always plan the trade, trade the plan... have a good week!!