USDJPY - Low risk longs
8-hr chart has the hidden divergence, while 4-hr is starting to build up a bullish divergence for 112.5
Watch how price reacts at 108 - 108.5 support (Expecting a touch and go). Also keep an eye on a possible higher low on the Stochs, compared to the 112.5 (lower) lows.
Trade invalidated on a daily close below 108.0 with some bearish PA on the 8/4 hr charts.
8 & 4 hr candlesticks near 108.5 - 108 should show enough PA to decide on the longs.
Also leave a small position for a longer term move to 114 & 117/118 on close above 112.5
Watch how price reacts at 108 - 108.5 support (Expecting a touch and go). Also keep an eye on a possible higher low on the Stochs, compared to the 112.5 (lower) lows.
Trade invalidated on a daily close below 108.0 with some bearish PA on the 8/4 hr charts.
8 & 4 hr candlesticks near 108.5 - 108 should show enough PA to decide on the longs.
Also leave a small position for a longer term move to 114 & 117/118 on close above 112.5
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