Reason for the trading strategy (technically):
Price has dropped perfectly to our buying area and bounced off perfectly. We remain above major support at 81.90 ( , horizontal swing low support, ) and we expect a strong bounce above this level to at least 82.90 resistance ( , horizontal swing high resistance).
(34,5,3) is seeing strong support above the 8% level and also sees vs price signalling that a bounce is impending.
Correlation analysis: We’re expecting overall JPY strength today across USDJPY and EURJPY , hence it is best to exercise caution on this trade.