The market was quiet yesterday, today high impact news for GBP and CAD will be released. cut profit on USDJPY And try to bet open buy because the decline is starting to fade.
USDJPY plummeted in Asian markets, broke the lower band line on the hourly timeframe, profit target was reached, RSI was at the oversold level, waiting for a reversal ahead of the FOMC minutes.
The Japanese Yen strengthened, but there is a reversal pattern on the hourly timeframe, waiting with pending orders. Today, several high-impact news will be released, possibly causing market turmoil.
The market has closed pending orders far from being touched, and USDJPY continues its decline after several hours of consolidation. In the H4 and H1 timeframes, the RSI has shown an oversold level and is starting to leave in the H1 timeframe.
USDJPY extending the decline, in the M15 timeframe the price is near the lower band line, but today the Japanese bank holiday may reduce trading volume. Still holding on to pending orders.
USDJPY daily timeframe draws a reversal pattern, RSI level 37 leaves the oversold zone. Hourly timeframe, price breaks upper band line. The dollar index strengthened slightly today.
USDJPY fell more yesterday drawing a bearish candle. The hourly timeframe the price moves below the middle band and the Bollinger band expands, trying pending orders.
USDJPY yesterday was in a consolidation phase near the lower band, in four days the price moved in a narrow range, still leaving pending orders waiting for US GDP data and unemployment claims.