Reviewing last week's market: USD/JPY is bullish on the daily chart!
Hello!
This is Satori, researching FX.
Today we will deliver “Review of last week's market: Dollar/Yen turned positive on the daily chart!”
The figure below is the Dollar/Yen 1-hour chart with the N-Entry Indicator for last week, August 20–25, 2018.
http://livedoor.blogimg.jp/fxmt4indicator/imgs/0/7/07b9c6ee.gif
The 1-hour N-Entry Indicator turns positive after rising 50 pips from the low, but last week it turned positive only once at 110.527, which was the first buying opportunity.
At this point, it can be seen as having surpassed the upper price resistance line of the downward trendline that connected the highs since the week before last, which lightens the movement a bit.
However, at this point it had not turned positive on the daily level, so we will observe how things develop.
Then, in the latter part of the week, the 15 EMA on the daily chart turned upward, switched to support/resistance, and the rate also crossed above the EMA.
The second buying opportunity in the figure above is a point to buy from a line-trading perspective.
The indicators related to today’s article are as follows.
http://fxmt4indicator.abproducts.biz/wp/?page_id=2060
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