ðąUSD/JPY Time for correctionðą
ðąUSD/JPY Time for correction
ðąThe Japanese yen has shown strength in the last week, on Tuesday we moved down more than 4% due to the Bank of Japan's intervention.
ðąAfter landing on a strong support zone, we began to form a small upward correction.
ðąIn my opinion, there is a chance that it will even reach the vicinity of the nearest resistance zone, after which there is a good chance for the continuation of declines.
ðąThe technical environment is still very pro-downtrend, but in my opinion, from the current levels, there is little chance for the continuation of the declines.
ðąThe scenario I am playing out is the execution of an upward correction, after which I will watch and look for opportunities to continue the declines. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
ðąPlease do not suggest the path I have outlined with lines it is only a hypothetical scenario.
ðIf you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.ð
ðąThe Japanese yen has shown strength in the last week, on Tuesday we moved down more than 4% due to the Bank of Japan's intervention.
ðąAfter landing on a strong support zone, we began to form a small upward correction.
ðąIn my opinion, there is a chance that it will even reach the vicinity of the nearest resistance zone, after which there is a good chance for the continuation of declines.
ðąThe technical environment is still very pro-downtrend, but in my opinion, from the current levels, there is little chance for the continuation of the declines.
ðąThe scenario I am playing out is the execution of an upward correction, after which I will watch and look for opportunities to continue the declines. I don't exclude the possibility of changing the scenario if the market situation changes abruptly. I'm aware of the possibility of a correction at any time, this should be taken into account, If the outlook changes I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
ðąPlease do not suggest the path I have outlined with lines it is only a hypothetical scenario.
ðIf you appreciate my work and effort put into this post then I encourage you to leave a like and give a follow on my profile.ð
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