USDJPY: Buying dips into years end by Reece Marini

USDJPY H4

UJ4

The 38.2 fib (Yellow) at 115.500 has attracted some solid buying interest over the past few days with a number of stops being done above the 1:1 (Pink) high at 117.750 on the back of the FOMC Statement.

USDJPY H1

UJ1

With a number of stops now done above the 1:1 (Pink) buying on dips looks to be the best strategy going forward.

* A 1:1 refers to a current correction being equal in length to a prior correction

The post USDJPY: Buying dips into years end appeared first on www.forextell.com.

Leave a Reply