FX CHART OF THE DAY: USDJPY MEAN REVERTION TRADE
USDJPY is breaking back into the 1st st deviation from weekly mean amid compressing volatility (measured by 3.2 st deviations from weekly mean), siting high probability to reach the mean itself @ 120
Traders can take long positions at the lower 1st standard deviation @ 119.625 with stops below relevant lows @ 119.17
Traders should also mind JP news coming out 0:30 UTC
Traders can take long positions at the lower 1st standard deviation @ 119.625 with stops below relevant lows @ 119.17
Traders should also mind JP news coming out 0:30 UTC