3/26 USD/JPY still in an uptrend today a range of 150.724 to 149.327?
Good morning
Yesterday, amid strong dollar-selling factors
USD/JPY broke its recent high and rose
Heading toward the weekly Pivot R2
However, after a bearish engulfing, a downward trend emerged
A contrarian-to-trend-following setup works
Decline after breaking a key level is in play
After achieving the half retracement, it has risen
It’s trending down, but still within an uptrend channel
On the 4-hour, a flag is forming; eventually it will fall
Recently
Short-term GMMA is starting to look downward
Long-term trend is starting to become parallel
Above, the weekly Pivot R1 and the 200 MA overlap, creating a resistance
There is a barrier
Whether it will break through this level and rise
The orange line is the 0.382 retracement of the recent decline
It coincides with the 20 MA; the question is whether it can break through here and rise
The green line is the 50% pullback of the recent rise
Yesterday, amid strong dollar-selling factors
USD/JPY broke its recent high and rose
Heading toward the weekly Pivot R2
However, after a bearish engulfing, a downward trend emerged
A contrarian-to-trend-following setup works
Decline after breaking a key level is in play
After achieving the half retracement, it has risen
Today's Chart Analysis
USD/JPY 4-hour chart
It’s trending down, but still within an uptrend channel
On the 4-hour, a flag is forming; eventually it will fall
Recently
Short-term GMMA is starting to look downward
Long-term trend is starting to become parallel
Above, the weekly Pivot R1 and the 200 MA overlap, creating a resistance
There is a barrier
Whether it will break through this level and rise
1-hour chart
The orange line is the 0.382 retracement of the recent decline
It coincides with the 20 MA; the question is whether it can break through here and rise
The green line is the 50% pullback of the recent rise
15-minute chart
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