A fairly straightforward setup on USDJPY is currently developing. We are awaiting the formation of a swing high before confirming the validity of this trade. At present, this is the only missing component, and there isn't much else to be done except to patiently observe where our high will be established and set our target accordingly.
For instance, if we identify a short-term swing and see its broken down, we might be able to capture a counter-trend move or an early buying opportunity to push the price higher. Therefore, it would be wise to monitor this trade closely as the week progresses.
We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
For instance, if we identify a short-term swing and see its broken down, we might be able to capture a counter-trend move or an early buying opportunity to push the price higher. Therefore, it would be wise to monitor this trade closely as the week progresses.
We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!
