This is a bullish counter-trend trade setup on USD/JPY, aiming to catch a reversal or retracement. The trader is betting on a short-term bullish move, with a good RRR and a TP just below the 200 EMA — a smart technical consideration. However, caution is advised since price is still under the EMA, indicating possible bearish continuation unless a strong breakout occurs.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.