USDJPY - Broken through breakout level
If I look at my trade on EURJPY (see related idea) this doesn't seem like an obvious trade in correlation terms but I'll remain on track. A earlier break over the "Breakout Level" tells me I have a v.high probability of getting to 103.077. But then I would expect retracement after hitting T1 with a view to getting in again to T2. So this is effectively predicting more short term strength in USD and weakening of the EUR in context of JPY.
Sit out moment potentially?
Sit out moment potentially?
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