USDJPY pullback might be over
Updated
After yesterday's rally on US retail sales reading, USDJPY retreated from the highs but is now facing support. I believe the pair will bounce and continue its rally, even if it's just for a larger correction.
BUY at 147.85 (at market)
SL at 146 (-185 pips)
TP at 151.85 (+400 pips)
BUY at 147.85 (at market)
SL at 146 (-185 pips)
TP at 151.85 (+400 pips)
Trade closed: stop reached
-185 pipsNote
Prices have stabilized at the 146 area and it is unclear which direction the pair will head next. I still prefer the bullish scenario, but I am not going to chase the trade.
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