ALERTS ARE SET FOR A PREP TO THE UPSIDE
USD/JPY 15M - I have my alerts set for this market ready just incase price does pullback into our fractal area of Demand before taking the market higher and this is somewhere I will be looking to enter long from.
I do feel though this zone may be absorbed an price may continue to trade beneath this area down and into the Demand zone below trading into the 50% mark before potentially reversing to the upside.
I will be waiting patiently with this pair prepping for the move, its just important we wait patiently for entry confirmation to be met before we take part in the market. We want to see breaks to the upside, confirming the end of this bearishness.
Once we have seen relevant breaks and price trades us into a valid area of Demand this is when we can start to look to take part in the market. I am expecting weakness in the USD but the JPY is also very weak.
I do feel though this zone may be absorbed an price may continue to trade beneath this area down and into the Demand zone below trading into the 50% mark before potentially reversing to the upside.
I will be waiting patiently with this pair prepping for the move, its just important we wait patiently for entry confirmation to be met before we take part in the market. We want to see breaks to the upside, confirming the end of this bearishness.
Once we have seen relevant breaks and price trades us into a valid area of Demand this is when we can start to look to take part in the market. I am expecting weakness in the USD but the JPY is also very weak.
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