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Michael.H
May 22, 2016 1:32 PM

USDJPY - Short Short

U.S. DOLLAR / JAPANESE YENICE

Description

Looking like a good opportunity to short UJ. It's trading between the trend lines and just hit a resistance level from a year ago and failed to break it. This resistance is also right at the point of the trend so it'll have to break both. If it does break, we'll see a massive move up towards the ~116.00 mark.

The Stoch RSI is curently oversold and the RSI has just hit a trend line.

Trade with caution.

Comment

Trade closed. Target hit.

Profit:730 pips
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