The chart shows a clear bullish double bottom chart for USDJPY.
USD has gained an edge over JPY - especially since Japan has an export oriented economy and JPY had strengthened significantly last year. Also Japan is a erstwhile ally of USA so it won't join the de-dollarization efforts of Russia, China and Saudi Arabia.
The question is how to go long USDJPY properly as there are retracement on intra-day charts. Probably need proper limit order to enter and be patient to wait for 1 to 3 weeks for the trade to close. My preferred swing trading style.
USD has gained an edge over JPY - especially since Japan has an export oriented economy and JPY had strengthened significantly last year. Also Japan is a erstwhile ally of USA so it won't join the de-dollarization efforts of Russia, China and Saudi Arabia.
The question is how to go long USDJPY properly as there are retracement on intra-day charts. Probably need proper limit order to enter and be patient to wait for 1 to 3 weeks for the trade to close. My preferred swing trading style.