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USDJPY. Place a pending buy limit order around the previous day's lowest low.

USDJPY. Place a pending buy limit order around the previous day's lowest low. | 25 July 2019

25 July 2019, USD/JPY

USDJPY. Place a pending buy limit order around the previous day's lowest low.

Wave Analysis

During the previous trading day, the US Dollar moved massively to the lowerside but failed to close below 107.965. The previous day's candle is a perfect bullish inside bar Pin bar. As long as the previous remains above the previous day's lowest low, we expect a possible momentum to the upperside, the idea is to have a pending buy limit a round the previous day's lowest low with the first take profit at 108.232, and the last take profit at 109.00 or even higher. If the price closes below the previous day's lowest low, then we expect a possible rally to the lowerside.

Trade Recommendations:

Place a pending buy limit order around the previous day's lowest low.

Bob Stan
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