With a 92% of bulls on Yen, USDJPY has resisted to close below 109 even on times of severe waves down on stock indexes. I believe a 109 will act as a good base for bulls in order to plot a good bear squeeze in a term of nearest weeks.
Notice also a large Bat pattern which, to date, is perfectly valid. Also, price has rejected several times from a Pitchfork Median Line.
Therefore, I bought last week at 109.37, then at 109 and pretend to add longs somewhere next week. As my target area is 117, I set a Stop loss below 107.
Notice also a large Bat pattern which, to date, is perfectly valid. Also, price has rejected several times from a Pitchfork Median Line.
Therefore, I bought last week at 109.37, then at 109 and pretend to add longs somewhere next week. As my target area is 117, I set a Stop loss below 107.
Comment:
Weekly chart and a 109 -117 range
Trade active:
LOnged 109 and 109.37. First one at bereakeven now
Please, follow your strategy! Always!
If there is no strategy that has proven itself successful, please do not trade with real money!
If there is no strategy that has proven itself successful, please do not trade with real money!