USDJPY is potentially ready for the long term upwave. In the 1 hour timeframe, the last impulse broke the previous structure. Waiting on the formation of corrective structure before trading the next upwave.
Trade active
keep things simple. Impulsive wave - corrective wave - impulsive wave. Higher highs and higher lows indicate high probability of uptrend.Note
Took 70% off upon breaking of the previous high. Remaining position at breakeven.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.