New uptrend on USDJPY?
My trend line that has been holding since February was holding until it recently broke it on October 4th. Drawing a new trendline, it shows obvious signs of an uptrend IF it continues holding. The price is currently at my resistance zone that has held strong since June of this year. If the daily candle closes above the resistance, I can see that as another confirmation for the uptrend. I would wait for the retracement before going long that way I could have another confirmation (price bouncing off the trend line) if it does happen.
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