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NIAL FULLER
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USDJPY 1 Hour Pin Bar Buy Signal, 15th October 2014

Trading Setups / Chart in Focus:

USDJPY – Dollar/yen bounces from event area

In our members trade setups newsletter yesterday, we amended our recent USDJPY view to say that we were waiting for a price action buy signal from down near 105.50 key support. Today, we can see that the USDJPY did bounce up from key support near 105.50 following the large sell-off in this market today. Price formed a long-tailed 1 hour time frame pin bar buy signal from this support today that could potentially give rise to higher prices. Note that this level down near 105.50 is a highly confluent area since it is an event area, key support and a 50% retrace level, as seen on the weekly chart below.

usdjpy1hr

Note the key chart level down at 105.50 area…

usdjpy

Today in the members daily trade setups newsletter, we will discuss this dollar/yen signal in more detail, as well as potential signals and key levels on other markets including the EURUSD, GBPUSD, NZDUSD, USDJPY, Crude Oil and more. To learn about becoming a member, click here.

About Nial Fuller

is a Professional Trader & Author who is considered ‘The Authority’ on Price Action Trading. He has a monthly readership of 250,000+ traders and has taught 20,000+ students since 2008. In 2016, Nial won the Million Dollar Trader Competition. Checkout Nial's Professional Trading Course here.

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