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USD/JPY Up trend in 4 hours chart
Monday, August 3, 2015 17:41
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Trend is bullish in USD/JPY 4 hours time frame. Vital support could be seen around 122.92 price level. Since last Friday, price is moving sideways. I expect price to complete bearish Wave C leg. Based on Elliott wave pattern, market is probably going to remain sideways for the time being. Next, expect a new high in price. If bearish candlestick closes below 122.92 critical support level then up trend is going to end. In this case, I would prefer to stay out of the market and re-analyze the price action.
Source: http://www.fxinstructor.com/blog/usdjpy-up-trend-in-4-hours-chart
USD/JPY has been in uptrend for long time now and honestly it looks all the same in future to come, so that’s it’s not exactly a bad idea to go with this trading. I only work with this pair when I am 100% sure; it’s a huge risk to take if we are not sure about the trend. I am working with OctaFX broker where they have incredible analysis facility, so following that leads into amazing results without adding much to the risk factor, so that’s why I am so successful!