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21.09.2020 04:42 PM
Trading idea for USD/JPY

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Hello dear traders! Let's me share an interesting trading idea for USD/JPY with you.

In the American session today, open interest revealed powerful buying activity from one-year lows. I suggest the idea of working out the third wave of that open interest holding positions with huge opportunities.

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If the currency pair closes the trading day higher, this will be a convincing signal for long deals from the daily pin bar.

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Risks could be capped by the intraday low today. Profit could be taken at the price of 107.

The profitability of a deal is 7:1.

The trading idea is developed on the grounds of the two methods: Price Action and Chasing stop orders.

Good luck in trading! Make sure you manage your risks!

Andrey Shevchenko,
Analytical expert of InstaForex
© 2007-2024
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