USDJPY LONG
USDJPY LONG: This is a trend-following trade based on the daily vertical support line. Historically, whenever the market price touched this trend line, it rebounded for a buy. The price has touched this trend line three times since September 11, and I am now anticipating a long trade.
Analyzing the 1-hour chart, a double bottom pattern is visible. Additionally, there is a trend line resistance on the 1-hour chart, which has been broken above, and we are waiting for a retest.
Entry: 149.73
Stop Loss: 149.05
Targets: 150.52, 151.25, and 151.70
Analyzing the 1-hour chart, a double bottom pattern is visible. Additionally, there is a trend line resistance on the 1-hour chart, which has been broken above, and we are waiting for a retest.
Entry: 149.73
Stop Loss: 149.05
Targets: 150.52, 151.25, and 151.70
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