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