Dear Carry Traders,
Last week I suggested to hold on to buy this pair until Daily Stochastic goes down low, simply because I saw Divergence on Stochastic.
Now Stochastic is down to 25%, and waiting to cross up, while the price seems to have bounced up at MPP (and Role Reversal Support Area).
I think it is safe to say, let’s buy it.
On H4, the price made Double Bottom, and made Higher High (even a bit…). So simply we can buy from the next Higher Low.
In case the price is rejected from the current resistance, then (as usual), we can buy from Fibonacci 38.2-61.8%. If, however, the price continues to go up and break the resistance, then we can buy from the re-test at 80.80-90 level.
Hope you can add another Long position today.
YJ Baik – Forex.Today @ Tokyo