USDJPY - Long trade idea Long
U.S. Dollar/Japanese YenFXCM
Description
⋅ Reasons for trade:
- There is a nice double bottom on the daily and 4H charts
- Bullish divergence on the daily RSI
- Price has found support around the 38.2% Fibonacci level
- Today's daily candle is forming an inside bar.
- The classic inside bar play is to trade the break of the Mother Bar. I will favour any move to the upside.
- With relatively close stops there is at least a 1.5:1 RR