USD/JPY - Great Opportunity To Buy The Dip!
Hello Traders!,
Today I've come across some short-term USD weakness which seems to be playing out as a bullish retracement for further impulses. In this instance I've located a great opportunity to buy the UJ pair with a great 50 PIP target. Lets see how it plays out!
What Is The Market Telling Us?
Today I've come across some short-term USD weakness which seems to be playing out as a bullish retracement for further impulses. In this instance I've located a great opportunity to buy the UJ pair with a great 50 PIP target. Lets see how it plays out!
What Is The Market Telling Us?
- Market has reversed on previous bearish trend @ around the 106.600 level and has been trending upwards with higher lows
- We have had a clear break and retest of our initial support which was previously respected
- 14EMA sloping downwards which confirms our retracement phase, MAs are still showing bullish sentiment for the market environment
- Since we are already in a clear break and retest phase within the market, we should look to execute BUYS soon
BUY as soon as we have a bullish closure above our initial support as it confirms support is holding