USDJPY in buyers controll
Based on the chart, price previously broke a major resistance area and now a pull back (or maybe a correction) has completed. We can clearly see that the power of sellers at this area decreased and today a good rejection is about to happening (which can be a good sign of buyers power at this area). So based on the mention scenarios, I prefer to be buyer at this area with a good risk reward ratio(1:3.5).
Note: As always please take risk management rules into consideration before opening any position on the market.
Good Luck!
Note: As always please take risk management rules into consideration before opening any position on the market.
Good Luck!
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