USDJPY 100.50 buy zone, Long Position
If USDJPY falls to the 100.50 zone and doesn't make new lows, I would open long position.
Yes, it's still in the triangle area which means the market doesn't have a clear trend. But it would be in the support areas. Price found strong supports around 100.50s twice recently. Good reward/risk ratio if you open a long position when the price becomes stable in the 100.50 again. Trade with care since it's still in a bearish trend. Trade after the breakout would be a conservative approach which also works very well.
Yes, it's still in the triangle area which means the market doesn't have a clear trend. But it would be in the support areas. Price found strong supports around 100.50s twice recently. Good reward/risk ratio if you open a long position when the price becomes stable in the 100.50 again. Trade with care since it's still in a bearish trend. Trade after the breakout would be a conservative approach which also works very well.
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