nahidik

USDJPY Look for the break.

FX:USDJPY   U.S. Dollar / Japanese Yen
I am not convinced the USD has retraced all that it is going to. I could be wrong. Overall I am bullish on the USD I feel there could be another pulse down before a larger move up.

Look for breaks and corrections. Buy or sell out of the corrections they may be small but you need confirmation of direction.
Comment: I would have preferred a more bullish close on the 1 hr. The 15 minute pin bar gives me a bit of concern. To take this a trade here I would like to see a shallow bear flag in which I can see a v small 3 wave pattern. It may break lower but I would rather miss the trade and wait for a better set up. Unless this is channeling we may be running out of down I will wait to see what price action gives us.

Trade safely. Educate, Anticipate, Validate and Participate. Be responsible for your own trades.

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