Bigger picture I'm still bearish on USDJPY predicting that we still see a move down to 106-105.50's level. However In order to get there I do think that we can see some bearish exhaustion at our current level resulting in a pullback into previous structure at 110.50's-11.00.
On the current chart price action has created a double bottom and has followed that up with a retest. We call this setup a 2618 trade which is a more conservative way of entering a counter-trend trade.
(If you're new to the 2618, here's a link to the free training we have on the strategy www.tradeempowered.com)
Akil Stokes
Chief Currency Analyst & Head Trading Coach
www.TradeEmpowered.com -The Premier Online Trading Education Company
YouTube goo.gl/Afk5sG
Facebook: goo.gl/VTQngr
Twitter: goo.gl/FlH33l
@AkilStokesRTM (Instagram, Periscope, Snap Chat & StockTwits)
On the current chart price action has created a double bottom and has followed that up with a retest. We call this setup a 2618 trade which is a more conservative way of entering a counter-trend trade.
(If you're new to the 2618, here's a link to the free training we have on the strategy www.tradeempowered.com)
Akil Stokes
Chief Currency Analyst & Head Trading Coach
www.TradeEmpowered.com -The Premier Online Trading Education Company
YouTube goo.gl/Afk5sG
Facebook: goo.gl/VTQngr
Twitter: goo.gl/FlH33l
@AkilStokesRTM (Instagram, Periscope, Snap Chat & StockTwits)
Trade closed: target reached:
Took some time but 1st targets were finally hit!
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