USDJPY – Strong Selling From Big Figure
As I wrote about in prior commentaries, the USDJPY had key resistance up at the big figure in 110, and then 110.60.
I bought yesterday on a pullback into the 109.49 support level and held till 110 as I was suspecting some initial selling interest first trip to 110. Turns out that assumption was correct as the pair sold off over 110 pips from the highs, closing below the 109 figure (1hr chart below).
I exited for a +3R profit and +50 pips for the third profitable trade in a row in the last 6 trading days simply trading with the trend off key levels. Notice I wasn’t waiting for price …... Keep reading