Price Action Setup – USDJPY Forming Price Action Squeeze | Apr. 24th
USDJPY – 4hr Chart Price Action Squeeze – More Upside?
Holding up the best of the main JPY pairs, the USDJPY has held closest to the key upside barrier of 100.00 with the smallest pullbacks, suggesting it is the most underpinned of all the JPY pairs. You can see on the 4hr chart below the price action squeeze that is happening with the successive HL’s (higher lows) and recent 20ema carry from today. The upside barrier is clear with the 100.00 level, but I don’t think traders are willing to buy here, so I’ll wait for either a deeper pullback towards 96.50, or a breakout pullback setup above 100 to add longs and rejoin the trend.
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