H4 USD JPY - intraday choppy - avoid till BUY opportunity knocks

2019-11-09 15:04:45

FX:USDJPY looks very choppy

Since daily charts have positive bias, I believe that long trades on 4 hours charts/ intraday will be trend following

However, as we can see, there is a bearish divergence that has been witnessed, price moving upwards and RSI moving down.

Divergence may remain for longer periods even post when they are witnessed. At this stage, I would avoid any intraday trades till their is clear signal and would look for buying (long) trades as the chart develops. Short trades will be against the larger trend on daily charts and may have less win probabilities and may either have lesser gains or higher whipsaws

Sharing below my daily chart analysis done on daily timeframes

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