TomProTrader

#USDJPY-Update: Accumulation Forming, Upside Likely! #Forex

FX:USDJPY   U.S. Dollar / Japanese Yen
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Traders,

Update: The pair is moving very well. If it closes at the highs of the day we could have a longer term impulse move to the upside, not just a corrective move.

USDJPY             has hit a support, followed by very compelling bullish reversal candles right at the bottom of the range. Price appears to be accumulating here, and expecting some great upside. There is a very nice Stochastic bullish divergence , as well as the higher low off the exuberant sell off, implying that bulls are inconspicuously buying positions in the dusk.

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Thanks Tom.
I already opened couple of postions as you told me.
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