RaynLim

USDJPY-Weekly Market Analysis-Mar19,Wk2

Long
FX:USDJPY   U.S. Dollar / Japanese Yen
Only the 4-Hourly chart, USDJPY has retraced back into its buy zone. On the M15 timeframe, the market has shown a head and shoulders bottom with RSI Divergence.

The aggressive trader could wait for the market open and Long this pair right away.

A slightly conservative trader could wait for the retracement before engaging the trade and a more conservative trader could wait for the break and close above the head and shoulder's neckline, retrace back in the neckline to right shoulder zone before engaging the trade.

Each decision is a trade-off as there's no perfect system.

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