USDJPY signals switch on - for a time
Trends of lower weekly and daily highs have been broken for USDJPY and investors buying the market above 100.00 the Fig for sentiment to rally by 2 ¼ Big Figs on Monday, the second most bullish day for sentiment so far this year.
The bounce is signalled as being corrective, but signals for Tuesday continue to point to buying dips - temporarily.
Management and risk description
Entry: Buy the dip at 102.49, just above today's low in Asia.
Stop: 101.68, Monday's Marabuzo line.
Target: 103.40, July's high and 103.85, a 62% recovery to the losses posted since the last three-week high.
Time horizon: Today only.
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