JPYUSD has been trading in a specific range (0.00873 - 0.00925) for quite some while. It tried to break out of it, however bears pushed it back into it. Since being back in the range, it has tested to top of the range again and immediately got pushed down. This is where I entered the trade. I can easily see us pushing towards the bottom of the range again the upcoming months.
If this trade succeeds, a good profit will have been made (~2000 pips).
If you look at the Stoch RSI on the daily chart, it's oversold.
If you look at the RSI on the daily chart, we just bounced of a trend line.
Trade with caution.
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As expected, anyone who followed this trade is making a killing on this trade.