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