Price made a low of 108.428 on the 4th Dec. and then rallied making 3 consecutive HH's before retracing back to the current low of 108.43 [Today's Low]. 108.495 is the Low of Friday, this stands as our preferred Buying price in the USDJPY. A trade back above the 108.495 will trigger our long entry position, and the stop loss will be below 108.40. Our Target is 109.35.
Trade active
⋅
Comment
⋅
108.64 Stands as the next barrier. above it we should see 109.28
Trade closed manually
⋅
For those following this usdjpy trade, Long closed at 108.74. SHort Opened. Failure reversal