An example (although not FX obviously) TSLA daily chart projected from WR impulsive breakout/breakdown bars:-
This is a key level for me right here... If USDJPY begins falling from this general neighborhood, my official take on the pair will finally transition from bullish to bearish.
Cleared current resistance level and slightly above it ATM. The trend is the trend (until it ends) so I expect next two resistance levels and swing high to give way as well. Unless of course bears win out.
JPY is sleeping. Do not attempt to wake it up !!! And don't even think of drawing fibos, S & R lines and those things. Just stay away from it.
Booyah! I expect that the next two resistance levels and swing high will never come into play. As for the trend being the trend, that's just not how I view things. If I see a Boeing 747 lifting off the ground by angling upward at two to three degrees per second with a maximum angle of 10 to 15 degrees, I know the plane is taking flight. There's nothing more I need to have happen beyond that. Similarly, my approach to the markets has been to identify the parameters dictating whether an asset is rising or falling from the perspective of a day, swing, or position trader so that I can know precisely when to buy, sell, or pass on any given financial instrument. Obviously, I could be totally full of it, but from my perspective, USDJPY is on its "final approach."
Usually put both resistance and support levels (which I left off previous image), but what do you know end of the trading week and UJ is back knocking on the resistance "door":-
According to my measures, USDJPY returned to a bullish sentiment about 16 hours ago, technically speaking. But frankly, just eyeballing it informally, the pair pretty much looks neutral to me at the moment, having more-or-less gone nowhere over the past five days, unable to decide if it's ready to fall, or if it wants to resume the ascent it began on August 15th.