USDJPY – SPOT: Buying On Breakout Of Bullish Pin Bar + Multiple Inside Bar (Combo Setup)
Price Action: Price had been forming a Bullish Pin Bar + Multiple Inside Bar (Combo Setup) since late last week.
Price moved higher from within the range of the recent Bullish Tailed Bar Signal that had formed just above the 131.49 short-term support level on Tuesday, August 2nd. (We have been suggesting trading this signal in since the August 3rd daily newsletter and hopefully, some traders got on board).
Potential Trade Idea 1: We are considering buying on a breakout of the current Bullish Pin Bar + Multiple Inside Bar (Combo Setup).
Potential Trade Idea 2: We are considering buying on a retracement lower whilst price remains above the prior Bullish Pin Bar Signal that had formed on Thursday, August 11th (Currently Active).