USDJPY Beginning of a new trend

5 Feb 2020

hey guys welcome for a new USDJPY update

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now this chart looks filled with lots of uncertainties but i think USDJPY is now in the beginning of a new bullish wave
which could possibly take out the previous highs
now dont get me wrong here cuz identifying the trend in the beginning is always something that's too hard to predict

as we get two major levels here which are 21 monthly EMA(white horizontal line) and 200 Weekly MA(green horizontal line)
so i would say to stay long above the pink zone and stay short below it

as you see USDJPY completed 5 wave formation along abc formation exactly at fib382 level
this indicates the beginning of a new impulse wave but as i say to stay bullish only above the pink zone

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here's the weekly overview with my custom RSI

you see the trendline coming all the way from 2017, but my custom rsi indicates break of this trend

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So that's all for now, hope this idea will help you making good profits
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this is Husain Zabir, signing out
Thankyou...