I am new to Forex as well as on TradingView Forum but today I want to share my view on the Daily, 4H and 1H TF charts for the community.
From the Daily and 4H charts of USDJPY , we may see that the Major Long term trend in USDJPY is . However, it has entered a short term correction phase,so we can exploit it with tight money management rules.
On the 1Hour chart, the price is trending within a channel and also it is above the Kumo Cloud. We can also see a Cloud Twist on 1H chart which is signaling a Future Cloud.
Currently, it is trading around 38.2% of Fib ratio and we can expect further upside upto next Fib ratio which is 5%.
I would appreciate to listen your view and comments on the above analysis.