Dear Traders,

 

I posted USDJPY Long trade setup yesterday.   The basic idea was simple – Weekly & Daily Ichimoku Clouds would be supports for this pair.

In fact, the price moved up more than 50 pips, and I continue to be Bull with this pair.

However, currently the price is hitting H4 21EMA, and suppose it will be respected, meaning the price may drop a bit from here, which is good.

We can buy at cheaper price!!

2015-12-11_13-05-05-UJ1

 

Even on Hourly chart (below), the price has already reached to DR2.  So it is not a good spot to buy now anyway.

2015-12-11_13-07-12-UJ2

As usual, the next buy zone is somewhere between Fib38.2-61.8%.  Additionally, I would like to propose DPP (121.55) as the buy zone.

 

Hope you can add one more Long position today.

 

YJ Baik – Forex.Today @ Tokyo

 

 

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