USDJPY – Corrective Pullback + Long Pin Bar Rejection
Continuing its bull run, the USDJPY sold off in early US trading today, only to find a strong bid, and form a long tailed pin bar rejection off the 1hr 20 EMA & key support around 109.50 that we talked about prior. The pullback since then has been largely corrective, so I am looking to buy pullbacks.
If we get aggressive selling and a break below 109.50, then the lows from yesterday come into play around 109.20. If either of these hold, then we should see a re-attack on the yearly highs just above 109.75. Hence I’m continuing my bullish bias while above 109.20 short term which has paid off in …... Keep reading