USD/JPY-Daily overview

Hello everybody!

-On a daily chart, we can see that the price made nice bullish engulfing pattern and then the price went in a bullish direction.

-The stochastic indicator is In an oversold area so we might expect that the bulls are going to take control over this pair.

-On a daily base, USD is the strongest currency while JPY is somewhere in the middle and on a weekly base USD is the strongest currency while JPY is the second strongest currency.

-If USD remains stronger then we can expect bullish movement and if JPY gains more power and becomes strongest than USD then we can expect bearish movement.

-WHAT DO YOU THINK ABOUT THIS SETUP?
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-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial
advice.