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LDForex_
May 26, 2020 12:32 AM

USDJPY- Bullish Symmetrical Triangle Long

U.S. Dollar/Japanese YenFXCM

Description

-If Bulls take control of this pair then I will wait for a breakout of the triangle and look to enter on the retest.
-The 50EMA is below price which indicates bullish trend of the pair.
-Top down analysis from the Daily and 4 hour show bullish trend and signals.
-I will wait for a strong bullish candle on the retest and then I will enter a long trade.

Order cancelled

Price did reach demand turned supply zone but it was not a good entry as there was no strong bullish candle confirmation to enter a long for this pair.
Comments
WicktatorFX
Turned into a ranging market for a while! Price action was really messy on UJ
LDForex_
@Wicktator, I agree, it was very messy! But I have posted another analysis on this pair just now which will hopefully go my way!
WicktatorFX
@LDForex_, Awesome, gonna have a look at it :)
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