USDJPY is ready to buy?!
USDJPY / 1D
USDJPY has been trading in a bull trend. Recently, the price was pulling back. Traders seem to react to the measured move of the last pullback.
Since 80% of breakouts fail. Any reversal is an attempt for a breakout. Based on that, I would assume the bull trend to continue.
Also, 58% of client accounts are net short on this pair, which doesn't actually give us a big edge on the market. So, mostly the price will range for a while.
I'll keep this pair on the hot watchlist to get on a good price with minimum risk.
trade safe,
Trader Leo.
USDJPY has been trading in a bull trend. Recently, the price was pulling back. Traders seem to react to the measured move of the last pullback.
Since 80% of breakouts fail. Any reversal is an attempt for a breakout. Based on that, I would assume the bull trend to continue.
Also, 58% of client accounts are net short on this pair, which doesn't actually give us a big edge on the market. So, mostly the price will range for a while.
I'll keep this pair on the hot watchlist to get on a good price with minimum risk.
trade safe,
Trader Leo.
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