Buy: USD/JPY
Updated
Price is currently in an uptrend confirmed by the price trading over the 200Day SMA and the Ichimoku cloud.
1Hr candles have interested the cloud and now the price is starting to reverse.
1Hr Stochastic is showing the market is oversold and the signal lines are reversing to indicate a reversal of price.
5 & 8 Day SMA crossing, indicating confirmation of the reversal.
Entry: 105.419
SL: 105.222
TP1: 105.590
TP2: 105.693
1Hr candles have interested the cloud and now the price is starting to reverse.
1Hr Stochastic is showing the market is oversold and the signal lines are reversing to indicate a reversal of price.
5 & 8 Day SMA crossing, indicating confirmation of the reversal.
Entry: 105.419
SL: 105.222
TP1: 105.590
TP2: 105.693
Trade closed: target reached
Hit TP1Would potentially look to close the trade now as the stochastic is indicating the market is now overbought and the Ichimoku is indicating there is soon to be a potential reversal
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