It's starting to look like it wants to go up, but for now I'm waiting for a pullback.On the 4-hour chart (H4), sellers may also step in, and overall it's moving in a range, so if I'm going to buy, I want to wait for a proper pullback before getting in.
The pair has been falling since the morning and has broken below yesterday's range.However, rather than continuing to drop sharply, it has settled into a range one level lower.
For now I have a bullish bias, but if price breaks below the C line, which is currently acting as support, I'll switch to selling.USD/JPY is one to watch today.
Momentum is fading, but I'm keeping a bullish bias.Price is in what you could call near the highs, so I'll also keep in mind the possibility of a turn lower from around here.
Price is already starting to break higher, but for now the scenario remains as shown above.I'd like to wait for a pullback first.
My bias is to sell, but the area around line C is right at the range low on the daily chart.A break below here looks likely to lead to further downside, but at the daily chart level this isn't a place to be selling right now.
Following yesterday's decline, I'm keeping a bearish bias.
Like yesterday, there's no movement, so I'm looking at a slightly bigger picture.I'm assuming a range from A to C and leaning toward buying for now, but if price starts losing momentum near Line A, selling is also an option.
My bias is to buy, but price is right in the middle of the range, and the daily chart has also run out of room to run, so there's no movement.
For now, there's no particular reason to sell, but since price is near the range high, it's not a situation where I'd aggressively buy either.I want to see whether price holds the current price zone and keeps rising, or drops back to around the range low first.
