Looking to long USDJPY. Currently in a short position from the high as I mentioned last week in Yen alignment across the Yen pairs where I had my eye on CADJPY and USDJPY also looked appealing to take a short play.
Currently now looking for longs as the trend is still clearly bullish on this pair along with other JPY pairs. However this leg we have just completed is the third wave in a bullish cycle therefore the trend may begin to get weaker.
Confluences:
38% Fibo
Round number
H12 50EMA and 50MA
Looking to breach of intra key level (created by last week's FOMC) to the next set of confluences
Entry: Stop Loss: Take Profit:
149.927 43 pips 151.024
Catch you later traders ▲
Currently now looking for longs as the trend is still clearly bullish on this pair along with other JPY pairs. However this leg we have just completed is the third wave in a bullish cycle therefore the trend may begin to get weaker.
Confluences:
38% Fibo
Round number
H12 50EMA and 50MA
Looking to breach of intra key level (created by last week's FOMC) to the next set of confluences
Entry: Stop Loss: Take Profit:
149.927 43 pips 151.024
Catch you later traders ▲