Stock market today: S&P 500 in fifth straight record close as earnings shine
We are looking higher on xxx/JPY pairs since risk on trades are correlated with lower safe heaven currencies which are JPY. As we said earlier we will look for the ABC pullback and try to make a trade on the strongest counterpart against JPY on the long side. For now we are waiting for a minimum three wave pullback to unfold into wave 4, from where some long opportunities may pop up.
USD/JPY, 1H
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