USD/JPY BUY - 05/10/2017
USD/JPY - moves unpredictably, as the price falls down, then grows up and all these moves are on small volume. But overall, it is locked in the local consolidation a little below the level of resistance 113,20. So that our previous scenario remains the same: due to the strong uptrend we should still give preference to long positions. We can enter the market after a confident breakout of the resistance on large volume. A stop loss should be placed below the breakout volume bar. A potential of the deal is 120 pips.
The bottom line: long positions after a breakout of the resistance.
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