USDJPY H4
The 38.2 fib (Yellow) at 115.500 has attracted some solid buying interest over the past few days with a number of stops being done above the 1:1 (Pink) high at 117.750 on the back of the FOMC Statement.
USDJPY H1
With a number of stops now done above the 1:1 (Pink) buying on dips looks to be the best strategy going forward.
* A 1:1 refers to a current correction being equal in length to a prior correction
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