USDJPY: Trend continuation via WRMB
This pair was covered yesterday during the Best Practice class on WRMB. I’ll going through in this blog post what was covered in class.
Looking at the overview on the higher time frame
- Looking to form a bias, we see that recent movements on the D1 chart, price is up.
- On the H4 chart, we can clearly see that price has done a WR of previous boxes low meeting the criteria of a WRMB.
- We can also see a 1234 upflow pattern on the H4 chart.
- We can see this 1234 is part of a Inverted Head & Shoulder pattern which would indicate bullishness.
Next Support & Resistance levels
- Currently price is close to resistance. For it to be able to travel higher these levels needs to be breeched
- Some key levels as resistance
101.50102.50, 102.90 (by Binni)