Before today’s non-farm payroll update, Usd/Jpy 4h chart is showing a clear MACD divergence.
The up trend weakness is confirmed by MACD last night.
We have been waiting for a short signal since. Either 4h price drop below the fast MA line or 4h price to test the Gann line.
Fortunately, none of the technical indicators has triggered a short entry.
As you can see, after news, Usd/Jpy reconfirmed it’s up trend, as least for a short while.
One thing worth mentioning is the Ichimoku system. During this uptrend, we have yet to see the price test Kijun-sen line, let alone to break it.
Personally, I found consolidate different templates is a must. Different view and confirmation is really necessary to trigger a real trade.