Price action and valuation indicate high probability of up move

USD/JPY has been very boring until today. Note how price has broke above the lower distribution area and rejected an attempt to re-enter the lower distribution area. Bond spread rising and price action indicate a high probability of moving higher from current levels. Stop only needs to be below the high volume node of the lower distribution so risk reward looks good

Trade stängt: Stopp nått:

Closed at 106.88 with 20 pip loss. Reversed now short from 106.88