Expecting the pair to resume uptrend following correction of the earlier impulse providing an opportunity to go long.
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Hi I see you expect a resumption of the short term trend. What about the possibility of a resumption of the longer term downtrend. Look at the weekly chart. It's looks like a top. I think you should be equally prepared to sell the break. (this last move up from 116.00 could be an ABC correction). I think it's reasonable to expect some sort of a bounce... but will it hold? Cheers
I see USDJPY going higher, and ranging - If I were a intraday trader I would certainly buy on dips! This article support my view but also give some reasons to an upcoming drop on the currency, so, if it drops like its saying, will be even better to buy: http://www.fxstreet.com/analysis/daily-fx-market-roundup/2016/02/02/