Tuesday, March 26, 2013

USDJPY Price Action: Inside Bar Trade Setup, 27/03/2013

The inside bar trade setup indicates indecision, but at a support zone, it could be of more interest to buyers. Note that price had dropped from another price action trade setup (the outside bar), therefore, momentum is with the bears.I would be more interested in going short if price were to rotate higher into resistance but if the support at 94.08 manages to get broken, price could target the next support at 91.17

My Recommendation: Wait out this scenario. There will be more clear cut trading opportunities.

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