Hello Traders!, Today I've come across some short-term USD weakness which seems to be playing out as a bullish retracement for further impulses. In this instance I've located a great opportunity to buy the UJ pair with a great 50 PIP target. Lets see how it plays out!
What Is The Market Telling Us?
Market has reversed on previous bearish trend @ around the 106.600 level and has been trending upwards with higher lows
We have had a clear break and retest of our initial support which was previously respected
14EMA sloping downwards which confirms our retracement phase, MAs are still showing bullish sentiment for the market environment
When Should We Enter?
Since we are already in a clear break and retest phase within the market, we should look to execute BUYS soon BUY as soon as we have a bullish closure above our initial support as it confirms support is holding
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