USDJPY - Potential Long for the Dollar (Daily chart)
The candle prior to the most recent has bounced from the significant psychological support zone of 100.000 and the two most recent candles look like the setup up for a Harami.
On top of this Relative Strength (Purple) indicator has changed direction and is heading back in the direction of buyers, yen is also showing over extended strength (see pair strength) compared to Dollar and the other major currencies,which look the polar opposite with overextended weakness.
I am waiting for confirmation from the daily candle and will reassess on monday, i dont currently hold a position.
goodluck!
Oliver R Evans
On top of this Relative Strength (Purple) indicator has changed direction and is heading back in the direction of buyers, yen is also showing over extended strength (see pair strength) compared to Dollar and the other major currencies,which look the polar opposite with overextended weakness.
I am waiting for confirmation from the daily candle and will reassess on monday, i dont currently hold a position.
goodluck!
Oliver R Evans