This is the first write up for the USDJPY trades. 2 long positions were established last month, another just established earlier.
Technical Analysis (Ichimoku Charting)
USDJPY has been trending upwards since last October. The price action has been trending well with all the ichimoku indicators. It had only touched the cloud lo some time last November. Other times it has been well supported by the kijun-sen. The ichimoku cloud remains constantly thick forward looking, continue to see support from the ichimoku cloud to the price action.
Trading Strategy (Ichimoku Trading)
Decided to establish another long position since price action reacted when it touched the kijun-sen in the recent move. Until price reveals itself accordingly, will not recommend short.
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