USDJPY: Potential Massive Move About to Begin

29 Jul 2017

In case price continues its sell off it will very soon test the sliding parallel fo the median line set which previously has acted as support forcing price to rally. Since the level is has hold in the past we have no reason to believe it won't hold when it will be retested. Watch for a sell setup at the parallel and in case it works in the begining don't set a profit target but try to trail it till the median line of the fork where price found resistance and reversed.

240min chart:


I will be updating this post as long as it takes and action is present.

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