"Is Now a Good Time to Buy USD/JPY? An Analysis and Trading Outlook for July 8th"

In the #USDJPY price action charts, a notable occurrence is the recent bounce at the liquidity point of 160.40. This bounce suggests a strong possibility of further upward momentum in the market. Additionally, there is a clear indication of positive divergence, as highlighted by the green line, which serves as a valuable indicator for Members'.

Moreover, it is important to observe that the price structure has now moved above a new support level, signalling a potential breakout on the horizon. This shift in price dynamics hints at a bullish sentiment prevailing in the market. To validate this upward movement, traders are advised to monitor the downtrend line closely and await a confirmed break for a more definitive signal.

Overall, the current market conditions in the USDJPY charts present an interesting opportunity for traders to capitalize on potential gains as the price action suggests a favourable outlook for further upward movement. Chris