FX CHART OF THE DAY: USDJPY MEAN REVERION DOWN PROBABILITY
USDJPY is breaking below the 1st standard deviation from weekly (120-hour) mean after a leg of uptrending move.
Price is likely to tag the mean before continuing further - to recharge volatilty.
Traders can pick shorts close to the upper 1st standard deviation (124.70) aiming to the mean (124.30)
Stops should be placed above relevant highs (125.10), tagging of which will confirm another leg of uptrend.
Price is likely to tag the mean before continuing further - to recharge volatilty.
Traders can pick shorts close to the upper 1st standard deviation (124.70) aiming to the mean (124.30)
Stops should be placed above relevant highs (125.10), tagging of which will confirm another leg of uptrend.