eur/jpy trade...


The signal showed itself earlier tonight and I took it. Notice where the RSI is showing a better than 70 signal. When I see a strong bullish move, I tend to wait a candle or two to make sure price is weakening. Price was still 8 pips from the 50% fib retracement level from 160.95(08/14) to the recent low of 149.22(08/17). Many times the 50% retracement is a strong resistance level.

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