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USD/JPY trading plan for Aug 31, 2023

Writer's picture: 25noobsters Forex Analysis25noobsters Forex Analysis

The trend on H1 is down because the USD/JPY has been trading below Ichimoku cloud, and RSI is below 50.



It made a symmetric triangle which may be broken to either side.



If Core PCE from the US comes more than forecast, the triangle will be broken to the upside and I will enter a buy position with 60.0 pips SL/TP.


If Core PCE comes equal to or less than forecast and if the triangle is broken to the downside, I will enter a sell position with 60.0 pips SL/TP.

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