Hi Everyone
I am new to Forex as well as Babypips Forum but today I want to share my view on the Daily, 4H and 1H TF charts for the Babypips community.
From the Daily and 4H charts of USDJPY, we may see that the Major Long term trend in USDJPY is Bearish. However, it has entered in a short term correction phase,so we can exploit it with tight money management rules.
On the 1Hour chart, the price is trending within a channel and also it is above the Kumo / Cloud. We can also see a Cloud Twist on 1H chart which is signaling a Bullish Future Cloud.
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Currently, it is trading around 38.2% of Fib ratio and we can expect further upside upto next Fib ratio which is 5%.
1H Chart
4H Chart
Daily Chart
I would appreciate to listen your view and comments on the above analysis.