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MaBaCapital2
Jul 10, 2020 9:55 AM

Trade idea for USD/JPY Long

U.S. Dollar/Japanese YenFXCM

Description

When we have a look at the chart we can see that the price is trying to break below a resistance zone that held pretty good before. We can also see that the RSI indicator is very low. This is an indication that the price is going to revers. We can also see that there is a divergence happening if we open the MACD indicator. This are all good indicators that the price is going to go up.

Please let me know in the comments what you think of it.
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If you have any questions, feel free to PM me.

Comment

If you are in this trade, consider to move SL to entry and take some profit.

Comment

If you are in this trade, move your SL into profit.

Trade closed manually

Comment

New trade idea

Comment

Will be looking to close the new trade above.
Comments
Marcel69
I closed also with profit :-). Thanks for you analyses.
MaBaCapital2
@Marcel69, You are welcome.
Marcel69
Indeed its an up!
MaBaCapital2
@Marcel69, For now it is up but we have to wait and see what will happen once the US session opens because that's the time that it will have more volatility I think.
Marcel69
@Balte, Thanks for the info.
Marcel69
Staying on the side line waiting for confirmation, especially with the rising covid victums in USA.
MaBaCapital2
@Marcel69, Yes it is a tricky one but if I am right its a good trade. Just got to make your own analysis and belief in that.
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