USDJPY: An Intraday Buy after Mini ABCD

USDJPY has just completed a mini ABCD, a consolidation of 2 waves of movement in the same direction of equal time and volume, and is likely to climb further to close the gap left uncovered since 6th May.

The price has closed above the breaking point at 110.30 with a strong bullish candle, signalling that it is likely to climb further.

Also, This buy setup came after a failed sell setup which therefore leads to the belief that there’s currently no sellers until the gap is closed.

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