USDJPY - Overview on Weekly Timeframe

OANDA:USDJPY   US-Dollar / Japanischer Yen
OANDA:USDJPY seems to be getting ready for a nice movement to the upside. On the weekly timeframe , you can clearly see that the pair seems to be very close to the end of the medium term correction which has followed last year's big impulse to the upside and has covered most of 2017.
Said correction, if our analysis on the long term structure is correct, should be followed by another impulse to the upside, which should in turn take the pair, in the next medium term, approximately to the 123-125 level. We are in with a conservative long position from what seemed to be the beginning of the uptrend at the time, from around the 108 level, and we have kept our positions. However, as we would like to add more positions once our analysis proves to be correct, we are monitoring the pair closely for new buy opportunities.
Updates on smaller timeframes will follow.

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Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).

Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.

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