This is a Pair that i've been monitoring since
March when it broke the weekly channel.
I specifically said that if it re-enters the channel
it will reach back up to 114.00 Price point which is
still very possible..
We have a strong trend in USDJPY and we can definitely
take a look into the bounce of the text book Break out trade that
has occured. One rule needed is the retest and that is what we are
buying off of. as well as the 61.8 retracement level, being that there
is a gap behind it, we will note that gap as the liquidity level combined
with the 61.8% Retracement level.
March when it broke the weekly channel.
I specifically said that if it re-enters the channel
it will reach back up to 114.00 Price point which is
still very possible..
We have a strong trend in USDJPY and we can definitely
take a look into the bounce of the text book Break out trade that
has occured. One rule needed is the retest and that is what we are
buying off of. as well as the 61.8 retracement level, being that there
is a gap behind it, we will note that gap as the liquidity level combined
with the 61.8% Retracement level.