Forex analysis: USDJPY

Here you can see the current USDJPY Daily-chart. In this earlier Forex analysis, I have already mentioned that the course is within a trend channel. We see that the price could move up to the upper trend line as expected. Here I expected a response from the seller, since it is a psychological resistance.

In the 4h-chart, we can see how the price has reached the trendline and changed direction. This is due to some short positions that have pushed the price in this direction. This allowed me to make a small Profit with my Forex analysis. However, there were many important news this week, so I closed my positions before the announcement. Because this weekend is the second phase of the french election, I will not hold any positions open over the weekend. If there are gaps, stop-loss levels can be exceeded and high losses are generated. How it goes on and if the USD gains strength and the level can break up, we will see next week.