USDJPY: Taking A Gamble That Buyers Will Support this Buy Zone
I am in with all four legs. I like this level, and I like how the price returned back to this area to give me a second opportunity to enter this trade before another bullish move back up in the resting dollar.
Reason to take the trade:
(1) Demand zone (2) Long term 60 minute trendline right in the demand zone. (3) 78.2% fib (4) Potential NM and Pi pattern lining up together at the same time. (5) On the buy side of the control line, which can act as support.
*Now, I just need a strong reaction; and then, this will make the perfect storm!
I am in it though...waiting...going to take a rest. Take care journal!