Swing Trading on USDJPY Bull Run. Wait for confirmations
Here's my view on USDJPY.
It has been a pretty long bull run for the past few years and it's not going to stop soon. So there are 3 scenarios which will likely to happen.
1st Scenario is there will be a pullback due to a strong weekly supply zone to the nearest support from the past few weeks' price and it will continue going higher and breaking the supply zone weekly.
2nd Scenario is likely to happen if the bears are in control for the next few weeks to keep pushing downwards and after the bear run is over, the price will keep pushing higher breaking the weekly supply zone.
3rd Scenario is another probability where the trend changes suddenly with some fundamental news but the demand zone for USD is kind of making it unlikely to happen.
Also take a note that the Feds is about to decide on whether they will make the Tapering come true at the end of the year. Trade safely and always keep your stop loss on!
It has been a pretty long bull run for the past few years and it's not going to stop soon. So there are 3 scenarios which will likely to happen.
1st Scenario is there will be a pullback due to a strong weekly supply zone to the nearest support from the past few weeks' price and it will continue going higher and breaking the supply zone weekly.
2nd Scenario is likely to happen if the bears are in control for the next few weeks to keep pushing downwards and after the bear run is over, the price will keep pushing higher breaking the weekly supply zone.
3rd Scenario is another probability where the trend changes suddenly with some fundamental news but the demand zone for USD is kind of making it unlikely to happen.
Also take a note that the Feds is about to decide on whether they will make the Tapering come true at the end of the year. Trade safely and always keep your stop loss on!