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Glad I didn’t pull the trigger on this one! Last week I was thinking of buying USD/JPY on a Fib and mid-channel support.


I held back from pulling the trigger because I also saw a potential falling trend line on the lower time frames. In addition, the SMAs weren’t supporting my “trend” trade at the time and I promised in my Q4 2013 trade review that I wouldn’t go against my SMAs! Last but not the least, I was seeing that traders weren’t as excited for the dollar as they were in December.

Fundamentally I still believe that the dollar is in for more gains. I guess it’s just a matter of timing. But hey, it looks like USD/JPY is now testing the BOTTOM of the rising channel. What do you think? Is it time to buy?



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This content is strictly for informational purposes only and does not constitute as investment advice. Trading any financial market involves risk. Please read our Risk Disclosure to make sure you understand the risks involved.