USD/JPY opportunities for long positions alongside with the short-term trend

14.10.2016 / 00:58

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USD/JPY 14.10.2016 H4 chart.

Short-term upward trend and correction to 23.6 Fibo

Price below diagonal and horizontal sipports

Price action: Two Pin bars at levels of support for a possible upward impulse

Technical indicator

Price above moving averages SMA50 and SMA200

CCI(50) above 0 - positive signal

Possible entry now or after correction at 50% at the pin bars

SL 102.72

Alternative scenario: If the price goes below the shadows of the pin bars, the positive sentiment will change towards negative

Jr Trader Nikolay Georgiev

Varchev Traders

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USD/JPY opportunities for long positions alongside with the short-term trend

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