only indicator in this trade set up is volume
please check 6J weekly volume
this is the highest volume since 2013!
and that is meaningful in technical analysis
confluent with fundamental news that Japan government try to protect JPY currency
also you can backtest on weekly chart that
every time bullish engulfing happen with volume this set up work almost every time
however I set RR ratio just 1.5 because this is still considered as counter trend trade
If USD keep strong compare with JPY
Japan will have problem import goods
Hope Japan successfully protect their currency
Hope I can make some money from this trade
please check 6J weekly volume
this is the highest volume since 2013!
and that is meaningful in technical analysis
confluent with fundamental news that Japan government try to protect JPY currency
also you can backtest on weekly chart that
every time bullish engulfing happen with volume this set up work almost every time
however I set RR ratio just 1.5 because this is still considered as counter trend trade
If USD keep strong compare with JPY
Japan will have problem import goods
Hope Japan successfully protect their currency
Hope I can make some money from this trade