$USDJPY

12 Mar 2023

USDJPY was on a strong uptrend channel until it recently broke below the channel. For most traders, this would be a bearish signal but I'm seeing this as a bullish indicator that could be a healthy pullback before a bullish reversal. I will be waiting to see if it holds the purple level of 133.78 before entering a long position. Will keep a tight stop loss as this is not as a perfect setup as I am used to.