USD/JPY possible opportunity
Technicals
*The NKY (Japans currency index) is due for a longer term retracement, a possible 6 month pull back due to the size of the previous impulse.
*The USDX just finished its retracement and is projected bullish this year. (So if you can figure out 1+2=3 u can see what i am saying).
*We have been extremely bearish for a very long time with no significant pullback.
*Indicators obviously are ready for a push up.
Approach
*As you can see we touched the 0.786% and bounced off of it. Meaning on the 15min chart, if we do not exceed the previous low we have a solid long opportunity on our hands.
*WAIT! to see if the 15min chart exceeds the previous low, do not jump the gun!
*My target is at the previous high and that for me is modest. And my stop loss is tight because if the 0.786 is broken this idea will not be valid until future study.
*The NKY (Japans currency index) is due for a longer term retracement, a possible 6 month pull back due to the size of the previous impulse.
*The USDX just finished its retracement and is projected bullish this year. (So if you can figure out 1+2=3 u can see what i am saying).
*We have been extremely bearish for a very long time with no significant pullback.
*Indicators obviously are ready for a push up.
Approach
*As you can see we touched the 0.786% and bounced off of it. Meaning on the 15min chart, if we do not exceed the previous low we have a solid long opportunity on our hands.
*WAIT! to see if the 15min chart exceeds the previous low, do not jump the gun!
*My target is at the previous high and that for me is modest. And my stop loss is tight because if the 0.786 is broken this idea will not be valid until future study.
Feragatname
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