Thursday, October 11, 2012

USDJPY Long Trade Setup

Currently price is testing a horizontal support area. This area has provided support on previous several drops. On a break of this support, the rising trendline is expected to support. USDJPY H4
I plan to go long at current prices.

On a longer term view, I see a triangle formation. I expect it to break to upside. (see daily chart) USDJPY Daily

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