Looking to buy USDJPY 0.28% as it approaches the blue arrow. Support and trendline both meet there for price to potentially turn around.Price is also currently in a bullish channel , price will be at the bottom of the channel where the potential buy set up is. I will be looking for certain candle sticks as prices approaches buy area for an additional confirmation. RSI and Stochastics will be glanced at as well to add multiple confirmations. This pair is also in a buyers market so we will be trading with the trend.
Yorum:
Trade executed. Profits were made if trade was taken at the arrow. Stop loss would have been hit if take profit range was big.