USDJPY just broke out of his downtrend. As we can see, the pullback is forming itself. It should continue to go down until it hits back the trend line in order to complete the pullback. Then, if the candlesticks confirm the bullish reversal, it could be a good opportunity to long this pair.
Comment:
I guess we could say that was a perfect entry! +80 pips so far, I moved SL to breakeven and took half profits. I hope this analysis helped you out!
Comment:
USDJPY is back up to +70 pips. I closed the rest of my positions. Many more analysis to come! :)
Trade closed: target reached:
For those who were still in, TP hit! New analysis on AUDUSD, check it out
Comment:
+120 PIPS!:)