USDJPY: Buy on strength
Updated
USDJPY is flashing a potential signal for a bottom here, after pulling back for 5 weeks give or take. Previous retracements have shown a similar retracement in time, and it is a good signal to get a weekly downtrend, when the monthly trend is up, so, entering long on new highs here is a very low risk opportunity to rejoin the advance.Good luck,
Ivan Labrie.
Comment
Buy was never filled. The previous daily bar implies we wait for a bit longer, until downside momentum recedes, and then we can buy on strength.Order cancelled
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