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USDJPY: Buying A Breakout - May 1,2022

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USDJPY – Buying A Breakout From Inside Bar Pattern

Price Action: Price formed an Inside Bar Pattern, late last week.

Price moved higher from the recent Bullish Multi-Bar Fakey Setup that had formed mid-last week (We suggested trading the pullback to this setup in the April 28th, members' daily newsletter).

Potential Trade Idea 1: For more aggressive traders, we are considering buying on a breakout above the current Inside Bar Pattern.

Potential Trade Idea 2: We are considering buying on a retracement lower to within the range of the recent Bullish Multi-Bar Fakey Setup.

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