USD/JPY Trade Idea – Buying on this Dip, 6 Technical Reasons

From fxtimes.com

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)