dlifestyletrader
Long

USDJPY: An Intraday Buy after Mini ABCD

FX:USDJPY   U.S. Dollar / Japanese Yen
USDJPY has just completed a mini ABCD , a consolidation of 2 waves of movement in the same direction of equal time and volume , and is likely to climb further to close the gap left uncovered since 6th May.
The price has closed above the breaking point at 110.30 with a strong bullish candle, signalling that it is likely to climb further.
Also, This buy setup came after a failed sell setup which therefore leads to the belief that there's currently no sellers until the gap is closed.
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