For me There is nothing interested right now about FX:USDJPY and i like to open Long position if there is confirmation above 112.00 and go Short if there is a confirmation below 111.00
Until the confirmation i am at the sideway.
Well as you can see in the W1 Timeline, in the past week; FX:EURUSD rallies the price significantly and reached above 1.1300 Level and probably tries to touch and retest EMA 20, and for those who long trade fans; there is long position opportunity but need very small lot size because of probably volatility risk.
In other hand MACD give us a signal of divergence...
Someone somewhere told me that always search for Buy positions when main trend is bullish and Sell positions when main trend is bearish.
So i like to consider this as a role cause of most time truth.
based on this type of thinking, i like to open buy position after confirmation in support fake broke.
Lets see what happens.
There is an available strong channel here in USDJPY and i always like to go long and not short for bullish trends, but i like to consider this opportunity as a low risk situation so i wait for fake broke of 111.50 key level and after H4 or D1 candle confirmation i go short with low risk.
and i also thinking to have TP on 60 pips near 110.90 support level.
GBPNZD possible short trend
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