It is time to buy USD/JPY North wise

30 March, 2017

The currency pair USD/JPY has touched psychological level of 111.00 and formed bullish engulfing closing above it. Engulfing has also formed at the level of 110.80 in the 4-hour chart. This level represents a bearish trap and a double bottom. So, we should buy this pair at the market opening. Buy 111.05, Stop Loss 110.55, Take Profit 114.35. Check out what the double bottom looks like in the hourly chart.


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