USDJPY on major support, prepare to buy for a bounce

Buy above 112.44. Stop loss at 111.56. Take profit at 113.53.
Reason for the trading strategy (technically):
Price is seeing major support at 112.44 (Multiple Fibonacci retracements, horizontal overlap support) and we expect to see a strong bounce above this level to push price up to at least 113.53 resistance (Fibonacci extension, horizontal swing high resistance).
Stochastic (21,3,1) is seeing strong support above 1.8% where we expect a corresponding bounce from.

Kommentera:

we actually called this trade right before the major bounce. you can see it here : www.mexexchange.com/...-prepare-buy-bounce/

Anyway, we're creating an exclusive live trading room for tradingview traders so you get all the deeper insights into our trades and also lower time frame trading opportunities. PM me if you're interested!