Wait and Buy Usd around 112.59 towards 118.00 | 28 September 2017
28 September 2017, USD/JPY
Technical Observation
Recently, a breakout was seen when Usd brokeout above the 4 hour resistance line 112.59, retraced back to it bay could not penetrate below it. This breakout is a bullish signal, however, I'm waiting for a second pullback to the just broken line to pick a long position with my take profit fixed at 118.00. Unless the support 112.59 is clearely breached to the lowerside with a big red candle, I remain hesistant to short Usd, rather, I'm waiting for a pullback towards 112.59 to buy Usd towards 118.00.
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