Dollar Dax remains positive. May be the start of the break we dollar bulls have been waiting for on all dollar pairs. UJ just hit a barrier and may pull back. But will take long trade on any significant dip and ride my other longs if no dip.
As I thought USD/JPY reached 111.55 and even fell a little below that level before rebounding from it and returning to the resistance of the range around 112.50. I think a possible break out above it would mean a rally to 113.00 or even 113.40.
The US dollar recorded a rise against the Japanese yen on Tuesday. The session started at 111.72 and finished 50 pips higher. Graphics continued to grow above the moving averages, while the relative strength index remained neutral. In the short term, positive attitudes prevail, with levels at 110.90 and 112.90 continuing to play a key role in the upcoming direction.
managed to close at top of move for 98 pips and had several other trades in profit. 69, 51, 49, 43 51. Now I'm loving the retracement and have put in 3 additional long trade with one in profit of 10 pips already and back up we go, eh?
My chart shows the next up move should go at least to the .618 fib at about 113.72, but it will probably have a problem when it gets to 113.50 and rebound. So I'll probably move my stops tight around there and take the lower profit if necessary rather than risk some pips for 22 additional. If it blows thru 113.50 great, but may look for another retracement there.
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