USDJPY Detail Outlook

Hi traders:

I wanted to share my thoughts on USDJPY's current price action.

We did indeed see a strong breakout from the descending channel structure, and price impulsively push up to the top.

This is all align with my analysis for long term bullish outlook. The latest price is looking like it will forming further LTF bullish correction to move the price higher.

However, based on experiences and backtesting, since the price is getting close to the top of the HTF structure now, its best for our risk management to wait and see if price can break above the HTF structure completely.

Then, we can look for LTF continuation correction to get in the on the long term buy.

Patient is key :)

Thank you

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HTF: