IvanSt42 days ago

USDJPY

LONG

USDJPY LONG TERM OUTLOOK IN CASE OF MULTI-YEAR TREND BREAKOUT

USDJPY has a lot of momentum going upwards, as both the currencies are helping this move - DXY is showing some serious strength, US Treasury Bonds' prices are rising, JPY is trading well to the downside, so for the swing/position traders this might happen to be suitable trading opportunity. Anyway, the criteria needed for this one are the following. 1W: It is a longer-term trade idea when you have to involve criteria for the 1w chart... I would like to see a decent BREAK + CLOSE above the 1w200ema to signify the potential POLR to the upside 1D: first things first, I need to see that full BCR of the descending level as the trend is a multi-year one and a pretty significant level has been (arguably) broken, other than that I will eventually like to see a BCR of the shown S&D level as it is a pretty significant one + sniper criteria on side on the DAILY TIMEFRAME 4h: the 4h will most likely be the execution timeframe with the possibility to go lower for a more OTE, as always I would like to see the strong convincing 3-candle continuation after the completion of the 1dS&D BCR (3 healthy green candles with higher highs and decent body:wick ratios) and sniper criteria to be on side, as always NOTE 1: If these criteria are met then and !!!ONLY THEN!! i will be executing this trade! NOTE 2: Always remember to RISK ACCORDINGLY and DO NOT OVEREXPOSE! NOTE 3: Remember that this idea is much longer term and thus for criteria to be met we will need much more time than usual, if you want to trade it - BE PATIENT! Please do conduct your own form of analysis and #DONTFOLLOWBLINDLY! I am open to hear any of your thoughts/concerns regarding this trading idea, so please feel free to comment down! Trade safe guys!

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