Yesterday, I drew a triangle (www.tradingview.com/...zrr-27062023-USDJPY/) and price was within my PZ. I said price to go down but almost immediately flipped my view to go long from the PZ which worked out perfectly as that was the bottom, giving a 3R trade. PZ proved to be a powerful zone as market made a second dip but was just bought up. 143.72 holds, 144.62 is target. A possible trade here is long 143.88, 25 pips stop, target 144.60, 70 pips profit.
Anyway what is it for today? Price action is still looking bullish but there will be BOJ speech later which could make things volatile. Price is currently within the PZ. Basing here would launch another up move to target 144.60. Probably the only concern is how yen is gaining strength against other currencies (only USDJPY is up now). But overall, the stand is clear
Anyway what is it for today? Price action is still looking bullish but there will be BOJ speech later which could make things volatile. Price is currently within the PZ. Basing here would launch another up move to target 144.60. Probably the only concern is how yen is gaining strength against other currencies (only USDJPY is up now). But overall, the stand is clear
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