USDJPY - seeing some long opportunities
UJ pair is in a consolidation phase. The post-BoJ sequence was violent as expected with a deep correction. Bearish momentum lost strength and the price is moving lateraly towards a large chunk of cloud.
What is interesting to see is how the lagging span is going to go through its price line and then the Kijun. Level 116.6 is providing support and the lagging span was rejected twice so far, so it's more likely it will try to break above the price by targeting the Kijun. Long trades should not be taken before the LS is above the cloud as well as price and Kijun.
What is interesting to see is how the lagging span is going to go through its price line and then the Kijun. Level 116.6 is providing support and the lagging span was rejected twice so far, so it's more likely it will try to break above the price by targeting the Kijun. Long trades should not be taken before the LS is above the cloud as well as price and Kijun.