USD/JPY Price Action – Looking To Buy On A Pullback
Second Skies | Oct 30, 2014 01:28AM ET
USDJPY – Looking to Buy on Pullbacks Into Support (1hr chart)
Also a beneficiary of the FOMC rout of the majors, the USDJPY price action went ballistic jumping ~100 pips within an hour of the announcement. Just like the others, unless we see an about face (which we did after the last FOMC), I’m looking to pre-breakout structure highs around 108.20 offer a good trade location to get long. Upside targets for me are 109.10 and the big figure at 110.
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Don’t forget to watch our video on a Live Price Action Trade Setup on the Dow Jones that profited +7R.
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