USD/JPY Correction May Be Over Good Levels For Long

USD/JPY – D1, uptrend

Price under level of support.

Correction to 23.6% Fibonacci.

Price action: Pin bar is formed on support level – signal for probable rising. It’s good to wait the current bar to close for a signal approval.

Technical Indicators:

Gold cross on 50 and 200 SMA.
Price above 50SMA.
Price above 200SMA.
DeMarker turns up below 0.3 – positive signal.

SL: 113.3

Alterntive Scenario: Break through the current levels of support could lead to deeper correction.


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