I have not traded the USDJPY in some time. I failed to recognize the contracting pennant that I love so much until too late. Though in theory 136 is the target it is HIGHLY overbought. That said I do not recommend trading this until it sets up a strong sell signal. This has been one of my few mistakes. I did make good pips out of it but that breakout...damn. I should have seen it. My bad.
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