This is the identical setup as the one I posted on Jan 22nd.

Simply the price didn’t move, but the setup itself is still valid.

Basically, this is a Long setup, after seeing “Double Bottom + Higher High”.   So simply we should wait for the next Higher Low.

However, if you are Bear, you may consider selling this pair, as the price is touching Daily 21EMA, and Role Reversal Resistance.

 

I am Bull with this pair.  Thus I will simply buy from Fib38.2 – 61.8% as shown below.

Please note that WPP is around Fib38.2%.    Thus I will monitor carefully after the price comes down to FIb38.2% level.

 

Hope this setup helps you build your own.

 

 

YJ Baik – Forex.Today @ Tokyo