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AdamHong
May 31, 2017 2:53 AM

USDJPY: Bullish XYAB Pattern and Bullish Cypher Pattern Long

U.S. Dollar/Japanese YenFXCM

Description

The market broke out the downward trendline and pulled it back, bullish XYAY pattern formed in general.
Meanwhile the bullish Cypher pattern completed at 110.6 level.
Additionally,the Demand Zone also works at 110.5-110.6 levels.
So it is good to buy at 110.5-110.7 levels when the price pulls back.
SL: below 110.2
TP1: 111.6
TP2: 112.6
TP3: 113.3 and further more

Trade active

Very nice, the price reversed in the PRZ.

Comment

100 pips were taken before the NFP and another chance is given to buy again.
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