I believe USDJPY has reached a bottom, so this is a golden opportunity to go long, and not just short term, we can expect a long on a daily level too.
Now I have entered this trade already, but to me there will be plenty of opportunity to enter again.
Right now it is still within a downtrend channel, however we will be expecting to break out of it soon. There are two opportunity which I think would be great to jump on this train riding north.
1. Is at 99.864 which I have entered, this has come from a calculated place according to laws of supply and demand, with SL at 99.540. If it fails to break the channel, then there will be a high chance of it coming back down to re-test that level.
2. Should the channel be broken, we can expect the price to re-test the upper channel which is at roughly 100.174. Then the price should shoot north.
Now I have entered this trade already, but to me there will be plenty of opportunity to enter again.
Right now it is still within a downtrend channel, however we will be expecting to break out of it soon. There are two opportunity which I think would be great to jump on this train riding north.
1. Is at 99.864 which I have entered, this has come from a calculated place according to laws of supply and demand, with SL at 99.540. If it fails to break the channel, then there will be a high chance of it coming back down to re-test that level.
2. Should the channel be broken, we can expect the price to re-test the upper channel which is at roughly 100.174. Then the price should shoot north.
