I am currently long USDJPY. It's Thursday, and there’s still plenty of buy-side liquidity left. The highs from Monday, Tuesday, and Wednesday remain unchallenged. We've also traded into a weekly PD array (weekly FVG), respecting the C.E. and moving away, which signals a local low for me. Additionally, we're breaking out of a falling wedge, with the breakout target being the top of the wedge. Lastly, DXY is beginning to show bullish market structure shifts on the 15m and 1h timeframes. I am targeting those relative equal highs. Invalidation lies at the most recent swing low.
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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.