USD/JPY finished lower yesterday. USDJPY D1 chart, the uptrend remains strong. The RVI indicator is currently forming a golden cross, and both lines are above the 0 axis. The Ichimoku indicator is currently showing a turning line that sees very strong bullish momentum. The RSI indicator has also fallen back to a safe position, which is conducive to further price increases.
A horizontal channel appears on the H1 chart, and the price touches below the horizontal channel. What the H1 chart pattern shows us is that the price is currently hovering above and below the channel for some time. In the short-term, you can wait for +DI to break through -DI and do more in the entry.
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.
