Hello Price Action Traders.
One of the most interesting forex pairs to keep monitoring in the next few days/weeks is usd/jpy. If we look at a daily bar chart, showing about a year of negotiations, we note a clear strong compression that is occuring in prices since June. Technically now we’re coming to the breakout of this very obvious compression happened after the strong bullish rally because the Japanese monetary policy. In multiday trading optics I would say that it’s interesting to wait some days. I would prefer to see a confirmation of the break with a daily closing prices at 100.00 area and look for a good long entry that can offer me a good trading relationship between risk and reward. I will keep you updated here on the blog!
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