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MEX_Exchange
Oct 24, 2017 2:23 AM

USDJPY profit target reached nicely, prepare to buy  Long

U.S. Dollar/Japanese YenFXCM

Description

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
BrandonF515
I took profits on this one already
djoutrou
@BrandonF515, congrat
BrandonF515
@djoutrou, thanks to @MEX_Exchange for awesome strategy
crown_fx
Pretty cool.
tabodetsaq
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...
dupogohin1491
Tradingview needs more people like you! Thanks MEX_Exchange!
oqgheo
Do you have any indicators you recommend for traders?
yvgrmaj
thank you for the great analysis
hmssru
thanks for the analysis once again sir...
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