USDJPY Long Trade Idea
Updated
Looks like UJ's intentions are being made clear as the major descending channel has only just been strengthened by the previous
dip that created yet another major Lower Low and the bottom end of the channel. Price is currently at a very crucial price area
as it happens to be lingering on a very strong zone which was once supporting price. Is it going to break above and shoot up, or
respect it and retest the lower low's support? Very challenging questions, usually in scenarios like these, context always clears
the room. I have made a small diagram that represents a bullish flag standard pattern. Prior to the descending channel coming
into play UJ had a very powerful, steep impulse, might explain the prolonged and slow correction. Let me know your views on this
pair down below if you've got a different perspective, I'd love to see your view.
Targets:
-107.600
-108.450
-109.000
dip that created yet another major Lower Low and the bottom end of the channel. Price is currently at a very crucial price area
as it happens to be lingering on a very strong zone which was once supporting price. Is it going to break above and shoot up, or
respect it and retest the lower low's support? Very challenging questions, usually in scenarios like these, context always clears
the room. I have made a small diagram that represents a bullish flag standard pattern. Prior to the descending channel coming
into play UJ had a very powerful, steep impulse, might explain the prolonged and slow correction. Let me know your views on this
pair down below if you've got a different perspective, I'd love to see your view.
Targets:
-107.600
-108.450
-109.000
Trade active
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