USDJPY broke out of a 5/6 years strong downtrend line (green line) recently and is currently retesting the resistance line turned support. In addition, there is an uptrend line (blue line) supporting the advance. The area of confluence is a good entry point with a RTR of 1:4. Setup looks like a 5/5.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.