USDJPY forming broadening bottom
Updated
I am waiting for UJ to kick back down to the lower trendline before reversing its course toward the upper trendline. Waiting for touch and bounce back before longing the pair. (look at the red arrows for trade set up)
Another possibility is that price might do a partial decline and bounce off the supporting line and just shoots up. (the blue dotted arrows)
Another possibility is that price might do a partial decline and bounce off the supporting line and just shoots up. (the blue dotted arrows)
Trade active
Price hit the buy limit, in profitTrade closed: stop reached
USDJPY took an unexpected turn to the downside due to weakening US dollar. Looking for another entry.
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.