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USD/JPY Trade Idea – Buying on this Dip, 6 Technical Reasons
Trendline: The 1H USD/JPY chart shows the pair consolidating, falling to 93.15 today. Here are some reasons you might want to consider buying on this dip. Stop placement, target: A break below 93.00 could be a sign that this bullish outlook is not working, unless its a false breakdown. Otherwise, below 93.00 and these support factors, USD/JPY might actually be developing a more significant correction. For now the 94.00 level seem to provide resistance, but since the trend has been bullish, there is potentially a higher upside. In my opinion, trade management in this trend-following scenario can be more aggressive ... (full story)
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- Feb 7, 2013 12:24pm Feb 7, 2013 12:24pm
- Mike Haran
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- SalmanDhedhi
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- love.l0ve
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