My Ironclad Rule

"It's not how many pips you make, It's how much risk you take"

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Monday, April 12, 2010

USDJPY : Flag

 
This is a daily chart of  USDJPY. In longer term, this pair still looks bullish even though it has dropped for about 180pips from the recent HI at 94.70. It might form a flag continuation pattern as long as the support 92.9 holds. I'm anticipating a consolidation in the flag price range and waiting for breakout at the resistance.

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