USDJPY
seems to be getting ready for a nice movement to the upside. On the weekly timeframe, you can clearly see that the pair seems to be very close to the end of the medium term correction which has followed last year's big impulse to the upside and has covered most of 2017. Said correction, if our analysis on the long term structure is correct, should be followed by another impulse to the upside, which should in turn take the pair, in the next medium term, approximately to the 123-125 level. We are in with a conservative long position from what seemed to be the beginning of the uptrend at the time, from around the 108 level, and we have kept our positions. However, as we would like to add more positions once our analysis proves to be correct, we are monitoring the pair closely for new buy opportunities.
Updates on smaller timeframes will follow.
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