The pair is currently hovering around the trend line shown in the chart, the correction to the upside has been sharp and looks limited, I believe we will be resuming the downside from here and a break below the trend line shown in the chart would would be a nice opportunity to go short.
In the case of an unlikely break to the upside however I would be looking to buy and a possible reversal of the down trend.
In the case of an unlikely break to the upside however I would be looking to buy and a possible reversal of the down trend.
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monthly picture we have currently
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now a possible scenario for USDJPY
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possible scenario updated earlier looks to be on play now
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update: long opportunity
Disclaimer: The trade ideas posted here are only my view of the respective market and is intended purely for guidance/informative purpose only and should not be taken as a trade call.