This is an update to my previous $USDJPY publications. We are long, after averaging in for 4 days, starting the day of the exact low, with a cost basis of 108.66, holding a 33% account long position.
I think we can resume the rally, and get an uptrend of proportions similar to the one that took place after the presidential election in the US.
I'll be looking to add short term entries, applying multiple trend following proprietary strategies that we use to better leverage trends while they last. If you're already in, try to be patient and hold, after we surpass the red resistance zone we have a lot of upside in this pair.
Good luck!
Ivan Labrie.
I think we can resume the rally, and get an uptrend of proportions similar to the one that took place after the presidential election in the US.
I'll be looking to add short term entries, applying multiple trend following proprietary strategies that we use to better leverage trends while they last. If you're already in, try to be patient and hold, after we surpass the red resistance zone we have a lot of upside in this pair.
Good luck!
Ivan Labrie.
Comment:
Notice how the gap 'skipped' the resistance of the red box and now holds above it...
Comment:
Target was hit.
This range from the low to today's high will be a support zone if retested in the future, after we move higher.