MEX_Exchange
Long

USDJPY profit target reached nicely, prepare to buy

FX:USDJPY   U.S. Dollar / Japanese Yen
Buy above 1113.16. Stop loss at 112.28. Take profit at 114.50.
Reason for the trading strategy (technically):
Price has dropped nicely and has reached our profit target from yesterday. We still see further bullish potential from here. Our goal is to remain bullish above 113.16 support ( Fibonacci retracement , horizontal overlap support, ascending support) for a push up to at least 114.50 resistance (Major swing high resistance).
Stochastic (21,3,1) is seeing support above the 1 to 9% area.
Comment: whoo! come on USDJPY let's bounce higher!

Comments

I took profits on this one already
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djoutrou BrandonF515
@BrandonF515, congrat
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BrandonF515 djoutrou
@djoutrou, thanks to @MEX_Exchange for awesome strategy
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Pretty cool.
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Hi MEX_Exchange, my name is Naibot and I am from Japan.... just want to give a shout out and say that your work is fantastic and many people here in my country always look out for it... plz keep posting...
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Tradingview needs more people like you! Thanks MEX_Exchange!
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Do you have any indicators you recommend for traders?
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thank you for the great analysis
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thanks for the analysis once again sir...
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