EWJ Straddle/Trade plan

Although EWJ is not the most popular fund among retail traders, the creation of a neutral position on it at around 800,000$ suggests greater interest on the part of professional market participants, and thus we can expect fairly predictable moves at support/resistance borders.

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The resistance level is traded without rebound. Based on that, the probability of further price move higher increases significantly.

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As we pointed out yesterday, there are signs of resistance level retracement with the target for further growth of the asset. The sentiment was released, giving us a 1.8% gain yesterday