USDJPY long trade on 29/08/23
- Fundamental shows USD strong and JPY was weak. Price pullback to support area.
- Correlation also shows USD stronger than JPY. The correlation during entry as per chart below.
- Price broke out from consolidation area and pullback towards support area.
- Entry, around 6:00pm
- Trade need to be manage as there was important news release around 8:30pm and 10:00pm
- Max. possible profit 4.04R