USD/JPY:
USD/JPY climbed to the 140 level yesterday, the first time since 1998 that it topped the 140 level. Currently the price on the D1 chart is seriously overbought and it can be seen that the buying power of the MACD indicator has gradually weakened today.
The MACD indicator on the H1 chart forms a death cross, and the price is expected to form a large correction. It can be seen that although the disk is still forming white candlesticks, the MACD still shows a strong bearish signal. Using Fibonacci backtesting predicts that the price is expected to retrace to 138.781.
Order suggestion:
Going short and grabbing a callback at a high level. The general trend waits for the price to pull back and continue to go long.
All transactions involve risks, the above analysis is for reference only. When placing an order, be sure to set the lot size and remember to set the stop loss.
