USDJPY Counter Trend Trade at Previous Structure Support
Here's one for you counter trend traders.
Market has finally pushed down to that 106 level of previous support. As we approach that level, you can see we have some Fib confluence, an equal measured Move, RSI is over sold.
I'm expecting an influx of buy orders at this level and a relief out of the market due to the bears taking profits and the counter trend traders getting long.
We will see if we can get an entry reason in the live room this morning.
www.tradeempowered.co.uk
Market has finally pushed down to that 106 level of previous support. As we approach that level, you can see we have some Fib confluence, an equal measured Move, RSI is over sold.
I'm expecting an influx of buy orders at this level and a relief out of the market due to the bears taking profits and the counter trend traders getting long.
We will see if we can get an entry reason in the live room this morning.
www.tradeempowered.co.uk