CraigC
Long

USDJPY Bullish Trade Set Up

FX:USDJPY   U.S. Dollar / Japanese Yen
The description of the idea is on the chart itself.
Comment: Now that the missed pivots have been taken out and the price is at the DTL, this decision area has two options: short back down to 116.20 on bounce off resistance, or further to 110.10 to take in lower missed monthly pivots, or break of DTL and retest to enter long to 129.38. I suspect the bounce to 116.20 and then long from there.
Comment: It chose to go to the 110 and a bit lower. If it continues to range it may go to 108 area. If it closes at 107 then it will invalidate longs from there. Geopolitically, the US would want a weaker dollar.
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